HB16-1051
Forms To Transfer Vehicle Ownership Upon Death
Concerning the issuance of beneficiary designation forms to facilitate the transfer of ownership of a vehicle upon the death of an owner.
Session:
2016 Regular Session
Subject:
Bill Summary
Transportation & Motor Vehicles
On and after the effective date of the act, the department of revenue (department) shall make available a beneficiary designation form (form) that allows the owner or joint owners of a vehicle to arrange to transfer ownership of the vehicle to a named beneficiary upon the death of the owner or upon the death of all joint owners of the vehicle. Upon the death of the owner or of the last surviving joint owner, the beneficiary may present the form to the department and request a new title of ownership of the vehicle in the beneficiary's name. The request must be accompanied by:
- Proof of the death of the vehicle's owner or proof of the death of the last surviving joint owner of the vehicle; and
- The statutory fee for an application for a certificate of title.
Upon the presentation of a properly executed and notarized form and the accompanying documents and fee, the department, subject to any security interest, shall issue a new certificate of title to the beneficiary.
The transfer of ownership of a vehicle via a form is not considered testamentary and is not subject to the provisions of the 'Colorado Probate Code'.
(Note: This summary applies to this bill as enacted.)