The question we hear a lot is:
“Why don’t you have a Colorado beneficiary deed for joint owners of Colorado real estate?”
The answer is twofold. First, it is just about as easy for each grantor of a Colorado beneficiary deed to name the beneficiary (ies) of their respective interest. It keeps things simple.
For example, a husband and wife who own a Colorado timeshare in joint tenancy and who would like to give their interest to Son A upon their deaths would each execute and record a Colorado beneficiary deed naming Son A as the beneficiary.
Second, keep in mind that a Colorado beneficiary deed does not override Colorado joint tenancy. Upon the death of the first of the joint tenants to die, the Colorado real estate passes to the surviving joint tenant and NOT to the person named on the Colorado beneficiary deed.
So, in the above example, If the husband dies and the wife survives, the Colorado timeshare would pass by joint tenancy to the wife. Only upon wife’s death will WIFE’s beneficiary deed become effective. The husband’s Colorado beneficiary deed is of no force and effect.
Attention! We are not attorneys and we are not lawyers. We cannot represent customers, select legal forms, or give advice on rights or laws. The article provided is for information ONLY and is NOT a substitute for the advice of a lawyer.