CO Code § 38-11-101 (2021)
2021 Colorado Code|Title 38 - Property - Real and Personal|Article 11 - Joint Tenancy|§ 38-11-101. Personal Property in Joint Tenancy - How Created - Vesting Upon Death

  An estate in joint tenancy in personal property is created if, in the instrument evidencing ownership of such property, it is declared that the property is conveyed, transferred, bequeathed, or held in joint tenancy or as joint tenants, whether or not additional words are used relating to tenancy in common or survivorship. The abbreviation “JTWROS” and the phrase “as joint tenants with right of survivorship” or “in joint tenancy with right of survivorship” shall have the same meaning. Upon the death of any such joint tenants, the title to and ownership of such personal property passes immediately to and vests in the surviving joint tenant or tenants. Any grantor or transferor in any such instrument of conveyance or transfer may also be one of the grantees or transferees therein.    Repealed.    Any such instrument evidencing ownership executed prior to July 1, 1996, as amended in compliance with subsection (1) of this section shall be deemed to have created an estate in joint tenancy.     History. Source: L. 37: P. 792, § 1. CSA: C. 92, § 17. L. 39: P. 286, § 1. CRS 53: § 76-1-5. L. 59: P. 528, § 1. C.R.S. 1963: § 76-1-5. L. 96: Entire section amended, p. 661, § 14, effective July 1. L. 2002: (2) amended, p. 1361, § 13, effective July 1. L. 2003: (2) repealed, p. 2002, § 66, effective May 22. History. Source: L. 37: P. 792, § 1. CSA: C. 92, § 17. L. 39: P. 286, § 1. CRS 53: § 76-1-5. L. 59: P. 528, § 1. C.R.S. 1963: § 76-1-5. L. 96: Entire section amended, p. 661, § 14, effective July 1. L. 2002: (2) amended, p. 1361, § 13, effective July 1. L. 2003: (2) repealed, p. 2002, § 66, effective May 22.    Cross references:   For joint tenancy in real property, see article 31 of this title; for joint tenancy in bank accounts, see § 11-105-105 and article 15 of title 15; for joint rights and obligations generally, see article 50 of title 13.   ANNOTATION   Law reviews. For article, “Joint Tenancy in Colorado”, see 26 Dicta 313 (1949). For article, “Simple Devices for the Transfer of Assets Without Administration”, see 27 Dicta 277 (1950). For article, “Ownership of Personal Property Accumulated During a Marriage”, see 17 Colo. Law. 623 (1988).   Rights fixed and vested at creation of joint tenancy. The rights are fixed and vested in the joint tenants at the time of the creation of the joint tenancy under this section. Smith v. Greenburg, 121 Colo. 417 , 218 P.2d 514 (1950).   To create joint tenancy with survivorship rights, there must be specific language manifesting such intent; where the instrument is silent or ambiguous as to the nature of the joint estate created, it will be construed as creating a tenancy in common and not a joint tenancy, and, if legal relief is sought, the naked wording alone without meeting statutory requirements will be insufficient to create a joint tenancy. Chilson v. Reed, 154 Colo. 149 , 389 P.2d 87 (1964).   Where a husband, possessing corporate stock certificates issued in his name, indorses and delivers them to another with the request that new certificates be procured therefor naming his wife and himself as joint tenants with the right of survivorship and not as tenants in common, a joint tenancy was established. Eisenhardt v. Lowell, 105 Colo. 417 , 98 P.2d 1001 (1940).   Circumstances unnecessary for creation of joint tenancy in bank account. It is not necessary for a joint tenant donee to have knowledge of the creation of the account, to sign a signature card, or to deposit or withdraw funds from the account in order to establish a valid joint tenancy in a bank account. Estate of Barnhart, 194 Colo. 505 , 574 P.2d 500 (1978).   In order to set aside joint tenancy properly created, it is necessary to show that the joint tenancy was created purely for the convenience or a business necessity of the putative donor, and that no right of survivorship was intended. Estate of Barnhart v. Burkhardt, 38 Colo. App. 544, 563 P.2d 972 (1977), aff'd, 194 Colo. 505 , 574 P.2d 500 (1978).   Applied in Sacco v. Oxley, 402 F.2d 155 (10th Cir. 1968).