§ 15-11-1104.5. Reformation

CO Rev Stat § 15-11-1104.5 (2018) (N/A)

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(1) Year 2001 rule. Upon the petition of an interested person, a court shall reform a disposition in the manner that most closely approximates the transferor's manifested plan of distribution and is within the one thousand years allowed by section 15-11-1102.5 (1)(b)(I), (1)(b)(II), or (1)(b)(III) if:

(a) A nonvested property interest or a power of appointment becomes invalid under section 15-11-1102.5 (1)(b); or

(b) A class gift is not, but might become, invalid under section 15-11-1102.5 (1)(b), and the time has arrived when the share of any class member is to take effect in possession or enjoyment.

(2) Year 1991 rule. Upon the petition of an interested person, a court shall reform a disposition in the manner that most closely approximates the transferor's manifested plan of distribution and is within the ninety years allowed by section 15-11-1102.5 (2)(b)(I)(B), (2)(b)(II)(B), or (2)(b)(III)(B) if:

(a) A nonvested property interest or a power of appointment becomes invalid under section 15-11-1102.5 (2)(b);

(b) A class gift is not, but might become, invalid under section 15-11-1102.5 (2)(b), and the time has arrived when the share of any class member is to take effect in possession or enjoyment; or

(c) A nonvested property interest that is not validated by section 15-11-1102.5 (2)(b)(I)(A) can vest but not within ninety years after its creation.

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§ 15-11-1103. When nonvested property interest or power of appointment created

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§ 15-11-1105. Exclusions from statutory rule against perpetuities