Disclaimer: This article is for educational purposes only and does not constitute legal advice.
Detailed Answer
When a minor inherits real property in Colorado, they lack legal capacity to sign deeds or consent to sales until they reach age 18. Colorado law offers several pathways to sell or transfer a minor heir’s interest in real estate:
1. Probate Sale by Personal Representative
If the decedent’s estate goes through probate, the personal representative can petition the court to sell the minor’s share. Under C.R.S. § 15-12-120, the representative must notify interested parties, obtain court approval, and show the sale serves the minor’s best interest. The court may require an appraisal, bond, or additional safeguards.
2. Custodianship under the Uniform Transfers to Minors Act (UTMA)
Parties can transfer title to a custodian under Colorado’s UTMA (C.R.S. §§ 15-14-401 to 15-14-416). The custodian holds and manages the property for the minor’s benefit. When the beneficiary turns 21, legal title vests automatically in the former minor. This option avoids probate and court-supervised sales.
3. Guardianship or Conservatorship Sale
If no personal representative exists, a party can petition the probate court for guardianship (over the person) or conservatorship (over the estate). Under C.R.S. § 15-14-401 et seq., the guardian or conservator must secure court permission before selling or mortgaging real property. They must demonstrate the transaction benefits the minor and comply with court-imposed conditions and reporting.
4. Partition Action with Guardian ad Litem
If co-owners cannot agree on sale or division, any owner may file a partition action under C.R.S. § 38-30-101 et seq.. The court appoints a guardian ad litem to represent the minor’s interests. The court can order physical division of the land or a sale, dividing proceeds among all co-owners according to their shares.
Helpful Hints
- Gather the minor heir’s birth certificate and proof of relationship to the decedent.
- Obtain a current appraisal to establish fair market value.
- File petitions or actions early to allow court processing time.
- Consider potential tax consequences for the minor and other heirs.
- Work with a qualified probate or real estate attorney familiar with Colorado law.