If the exercise of power concerning the estate is improper, the personal representative is subject to the provisions of section 15-10-504 and is liable to interested persons for damage or loss resulting from breach of his or her fiduciary duty to the same extent as a trustee of an express trust. The rights of purchasers and others dealing with a personal representative shall be determined as provided in sections 15-12-713 and 15-12-714.
Source: L. 73: R&RE, p. 1589, § 1. C.R.S. 1963: § 153-3-712. L. 2008: Entire section amended, p. 483, § 6, effective July 1.
Structure Colorado Code
Title 15 - Probate, Trusts, and Fiduciaries
Article 12 - Probate of Wills and Administration
Part 7 - Duties and Powers of Personal Representatives
§ 15-12-701. Time of Accrual of Duties and Powers
§ 15-12-702. Priority Among Different Letters
§ 15-12-704. Personal Representative to Proceed Without Court Order - Exception
§ 15-12-705. Duty of Personal Representative - Information to Heirs and Devisees
§ 15-12-706. Duty of Personal Representative - Inventory and Appraisement
§ 15-12-707. Employment of Appraisers
§ 15-12-708. Duty of Personal Representative - Supplementary Inventory
§ 15-12-709. Duty of Personal Representative - Possession of Estate
§ 15-12-710. Power to Avoid Transfers
§ 15-12-711. Powers of Personal Representatives - in General
§ 15-12-712. Improper Exercise of Power - Breach of Fiduciary Duty
§ 15-12-714. Persons Dealing With Personal Representative - Protection
§ 15-12-715. Transactions Authorized for Personal Representatives - Exceptions
§ 15-12-716. Powers and Duties of Successor Personal Representative
§ 15-12-717. Corepresentatives - When Joint Action Required