This form is to be used by the heir of the decedent in order to disclaim the right to receive property from the deceased.
Colorado Renunciation and Disclaimer of Right to Inheritance or to Inherit Property from Deceased - Specific Property
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FAQ
You make your disclaimer in writing. Your inheritance disclaimer specifically says that you refuse to accept the assets in question and that this refusal is irrevocable, meaning it can't be changed. You disclaim the assets within nine months of the death of the person you inherited them from.
This means that all heirs do not have to agree on what to do with the property in order for it to be sold. If even one co-owner wants to sell the property, a partition action will force the sale of the inherited property. An experienced partition attorney can ensure the best outcome for co-owners who disagree.
What is Interstate Succession? In Colorado, if you die without a will, your assets are distributed to your closest relatives under the Colorado interstate succession laws. In various states, the interstate succession process occurs when someone without a valid will or other legal declaration passes away.
When the deceased is survived by only a spouse (no children or parents), the surviving spouse inherits the entire probate estate. The same applies when the decedent (person who died) is survived by a spouse and children, but only if all of the children are also the children of the surviving spouse.
Unless the will explicitly states otherwise, inheriting a house with siblings means that ownership of the property is distributed equally. The siblings can negotiate whether the house will be sold and the profits divided, whether one will buy out the others' shares, or whether ownership will continue to be shared.
There is no need for all heirs to agree to sell a property if it is still in probate. The heirs need to petition the court for approval to sell the property. If they file a suit for partition, the court can order a property sale.
Per Colorado Revised Statutes, the legal next-of-kin is designated to the following person(s) and progresses in the following order: Personal representative or special administrator of the deceased individual's estate. The surviving spouse of the deceased, if not legally separated.
Heirs must survive the decedent by at least 120 hours. Decedent's brothers and sisters (and descendants of any pre-deceased brothers and sisters) are the heirs. And If no descendants survive the decedent, surviving parents are also heirs, unless the decedent is survived by a designated beneficiary.
How do I legally disclaim my inheritance? be in writing; declare who the disclaimer is; describe the interest (property) disclaimed, signed by the disclaimer; and. delivered to the personal representative, or trustee of the estate; or. filed with the court proceeding over the estate.