reglab/housing_qa huggingface dataset:
CO Code § 15-5-813 (2021)
2021 Colorado Code|Title 15 - Probate, Trusts, and Fiduciaries|Article 5 - Colorado Uniform Trust Code|Part 8 - Duties and Powers of Trustee|§ 15-5-813. Duty to Inform and Report

  A trustee shall keep the qualified beneficiaries of the trust reasonably informed about the administration of the trust and of the material facts necessary for them to protect their interests. Unless unreasonable under the circumstances, a trustee shall promptly respond to a qualified beneficiary's request for information related to the administration of the trust.    A trustee:   Upon request of a qualified beneficiary, shall promptly furnish to the qualified beneficiary a copy of the portions of the trust instrument that describe or affect the beneficiary's interest;    Within sixty days after accepting a trusteeship, shall notify the qualified beneficiaries of the acceptance and of the trustee's name, address, and telephone number;    Within sixty days after the date the trustee acquires knowledge of the creation of an irrevocable trust, or the date the trustee acquires knowledge that a formerly revocable trust has become irrevocable, whether by the death of the settlor or otherwise, shall notify the qualified beneficiaries of the trust's existence, of the identity of the settlor or settlors, of the right to request portions of the trust instrument that describe or affect the beneficiary's interest, and of the right to a trustee's report as provided in subsection (3) of this section; and    Shall notify the qualified beneficiaries in advance of any change in the method or rate of the trustee's compensation.         At least annually and at the termination of the trust, a trustee shall send to the distributees or permissible distributees of trust income or principal, and to other qualified beneficiaries who request it:   A report of the trust property, liabilities, receipts, and disbursements, including the source and amount of the trustee's compensation; and    A listing of the trust assets and, if feasible, their respective market values.       Upon a vacancy in a trusteeship, unless a cotrustee remains in office, the former trustee shall send a report to the qualified beneficiaries. A personal representative, conservator, or guardian may send the qualified beneficiaries a report on behalf of a deceased or incapacitated trustee.       A qualified beneficiary may waive the right to a trustee's report or other information required to be furnished pursuant to this section. A qualified beneficiary, with respect to future reports and other information, may withdraw a waiver previously given.    Subsections (2)(b) and (2)(c) of this section do not apply to a trustee who accepts a trusteeship before January 1, 2019, to an irrevocable trust created before January 1, 2019, or to a revocable trust that becomes irrevocable before January 1, 2019.    Nothing in this section may be construed to impose on the trustee a duty to inform or report to any person other than a qualified beneficiary or as directed by the court.      History. Source: L. 2018: Entire article added, (SB 18-180), ch. 169, p. 1176, § 1, effective January 1, 2019.
CO Code § 15-5-814 (2021)
2021 Colorado Code|Title 15 - Probate, Trusts, and Fiduciaries|Article 5 - Colorado Uniform Trust Code|Part 8 - Duties and Powers of Trustee|§ 15-5-814. Discretionary Powers - Tax Savings

     Notwithstanding the breadth of discretion granted to a trustee in the terms of the trust, including the use of such terms as “absolute”, “sole”, or “uncontrolled”, the trustee shall exercise a discretionary power in good faith. The parameters for that exercise are established by the terms and purposes of the trust, the interests of the beneficiaries, and relevant fiduciary duties. A trustee does not abuse its discretion if the trustee, following the terms and purposes of the trust and considering the interests of its beneficiaries, exercises its judgment honestly and with a proper motive.    Where a trust gives a trustee unlimited discretion, including the use of such terms as “absolute”, “sole”, or “uncontrolled”, a court may not determine that a trustee abused its discretion merely because the court would have exercised the discretion in a different manner or would not have exercised the discretion.       Subject to subsection (4) of this section, and unless the terms of the trust expressly indicate that a rule in this subsection (2) does not apply:   A person other than a settlor who is a beneficiary and trustee of a trust that confers on the trustee a power to make discretionary distributions to or for the trustee's personal benefit may exercise the power only in accordance with an ascertainable standard; and    A trustee may not exercise a power to make discretionary distributions to satisfy a legal obligation of support that the trustee personally owes another person.       A power whose exercise is limited or prohibited by subsection (2) of this section may be exercised by a majority of the remaining trustees whose exercise of the power is not so limited or prohibited. If the power of all trustees is so limited or prohibited, the court may appoint a special fiduciary with authority to exercise the power.    Subsection (2) of this section does not apply to:   A power held by the settlor's spouse who is the trustee of a trust for which a marital deduction, as defined in section 2056 (b)(5) or 2523 (e) of the federal “Internal Revenue Code of 1986”, as amended, was previously allowed;    Any trust during any period that the trust may be revoked or amended by its settlor; or    A trust, if contributions to the trust qualify for the annual exclusion under section 2503 (c) of the federal “Internal Revenue Code of 1986”, as amended.        History. Source: L. 2018: Entire article added, (SB 18-180), ch. 169, p. 1177, § 1, effective January 1, 2019.
CO Code § 15-5-815 (2021)
2021 Colorado Code|Title 15 - Probate, Trusts, and Fiduciaries|Article 5 - Colorado Uniform Trust Code|Part 8 - Duties and Powers of Trustee|§ 15-5-815. General Powers of Trustee

  A trustee, without authorization by the court, may exercise:   Powers conferred by the terms of the trust; and    Except as limited by the terms of the trust:   All powers over the trust property that an unmarried competent owner has over individually owned property;    Any other powers appropriate to achieve the proper investment, management, and distribution of the trust property; and    Any other powers conferred by this code and the “Colorado Fiduciaries' Powers Act”, part 8 of article 1 of this title 15.          The exercise of a power is subject to the fiduciary duties prescribed by this code.     History. Source: L. 2018: Entire article added, (SB 18-180), ch. 169, p. 1178, § 1, effective January 1, 2019.
CO Code § 15-5-817 (2021)
2021 Colorado Code|Title 15 - Probate, Trusts, and Fiduciaries|Article 5 - Colorado Uniform Trust Code|Part 8 - Duties and Powers of Trustee|§ 15-5-817. Distribution on Termination

  Upon termination or partial termination of a trust, the trustee may send to the beneficiaries a proposal for distribution. The right of any beneficiary to object to the proposed distribution terminates if the beneficiary does not notify the trustee of an objection within thirty days after the proposal was sent, but only if the proposal informed the beneficiary of the right to object and of the time allowed for objection.    Upon the occurrence of an event terminating or partially terminating a trust, the trustee shall proceed expeditiously to distribute the trust property to the persons entitled to it, subject to the right of the trustee to retain a reasonable reserve for the payments of debts, expenses, and taxes.    A release by a beneficiary of a trustee from liability for breach of trust is invalid to the extent:   It was induced by improper conduct of the trustee; or    The beneficiary, at the time of the release, did not know of the beneficiary's rights or of the material facts relating to the breach.        History. Source: L. 2018: Entire article added, (SB 18-180), ch. 169, p. 1181, § 1, effective January 1, 2019.
CO Code § 15-5-1001 (2021)
2021 Colorado Code|Title 15 - Probate, Trusts, and Fiduciaries|Article 5 - Colorado Uniform Trust Code|Part 10 - Liability of Trustees and Rights of Persons Dealing With Trustees|§ 15-5-1001. Remedies for Breach of Trust

  A violation by a trustee of a duty the trustee owes to a beneficiary is a breach of trust.    To remedy a breach of trust that has occurred or may occur, the court may:   Compel the trustee to perform the trustee's duties;    Enjoin the trustee from committing a breach of trust;    Compel the trustee to redress a breach of trust by paying money, restoring property, being surcharged or sanctioned, or other means;    Order a trustee to account, provide a status or financial report, or provide an inventory;    Appoint a special fiduciary to take possession of the trust property and administer the trust;    Restrain, restrict, or suspend the trustee;    Remove the trustee as provided in section 15-5-706;    Reduce or deny compensation to the trustee or require the trustee to disgorge compensation previously paid;    Subject to section 15-5-1012, void an act of the trustee, impose a lien or constructive trust on trust property, or trace trust property wrongfully disposed of and recover the property or its proceeds; or    Order other appropriate relief.       If a remedy for a breach of trust is sought by a cotrustee, beneficiary, or interested person, or the court acts sua sponte, the provisions of part 5 of article 10 of this title 15 apply.     History. Source: L. 2018: Entire article added, (SB 18-180), ch. 169, p. 1183, § 1, effective January 1, 2019.
CO Code § 15-5-1002 (2021)
2021 Colorado Code|Title 15 - Probate, Trusts, and Fiduciaries|Article 5 - Colorado Uniform Trust Code|Part 10 - Liability of Trustees and Rights of Persons Dealing With Trustees|§ 15-5-1002. Damages for Breach of Trust

  In addition to other remedies provided by this article 5, a trustee who commits a breach of trust is liable to the beneficiaries affected for the greater of:   The amount required to restore the value of the trust property and trust distributions to what they would have been had the breach not occurred; or    The profit the trustee made, or the benefit the trustee received, other than reasonable compensation, by reason of the breach.       Except as otherwise provided in this subsection (2), if more than one trustee is liable to the beneficiaries for a breach of trust, a trustee is entitled to contribution from the other trustee or trustees. A trustee is not entitled to contribution if the trustee was substantially more at fault than another trustee or if the trustee committed the breach of trust in bad faith or with reckless indifference to the purposes of the trust or the interests of the beneficiaries. A trustee who received a benefit from the breach of trust is not entitled to contribution from another trustee to the extent of the benefit received.     History. Source: L. 2018: Entire article added, (SB 18-180), ch. 169, p. 1184, § 1, effective January 1, 2019.
CO Code § 15-5-1003 (2021)
2021 Colorado Code|Title 15 - Probate, Trusts, and Fiduciaries|Article 5 - Colorado Uniform Trust Code|Part 10 - Liability of Trustees and Rights of Persons Dealing With Trustees|§ 15-5-1003. Damages in Absence of Breach

  A trustee is accountable to an affected beneficiary for any profit made by the trustee arising from the administration of the trust, even absent a breach of trust.    Absent a breach of trust, a trustee is not liable to a beneficiary for a loss or depreciation in the value of trust property or for not having made a profit.     History. Source: L. 2018: Entire article added, (SB 18-180), ch. 169, p. 1184, § 1, effective January 1, 2019.
CO Code § 15-5-1004 (2021)
2021 Colorado Code|Title 15 - Probate, Trusts, and Fiduciaries|Article 5 - Colorado Uniform Trust Code|Part 10 - Liability of Trustees and Rights of Persons Dealing With Trustees|§ 15-5-1004. Compensation and Costs

 Except as otherwise provided in this article 5, the provisions of part 6 of article 10 of this title 15 govern the entitlement to and payment of compensation and costs to trustees, their attorneys, and third parties involved with trusts.   History. Source: L. 2018: Entire article added, (SB 18-180), ch. 169, p. 1184, § 1, effective January 1, 2019.
CO Code § 15-5-1005 (2021)
2021 Colorado Code|Title 15 - Probate, Trusts, and Fiduciaries|Article 5 - Colorado Uniform Trust Code|Part 10 - Liability of Trustees and Rights of Persons Dealing With Trustees|§ 15-5-1005. Limitation of Actions Against Trustee

  A beneficiary may not commence a proceeding against a trustee for breach of trust more than one year after the date that the beneficiary or a person who may represent and bind the beneficiary, as provided in part 3 of this article 5, was sent a report that adequately disclosed the existence of a potential claim for breach of trust and informed the beneficiary of the time allowed for commencing a proceeding.    A report adequately discloses the existence of a potential claim for breach of trust if it provides sufficient information so that the beneficiary or representative knows of the potential claim or should have inquired into its existence.    If subsection (1) of this section does not apply, a judicial proceeding by a beneficiary against a trustee for breach of trust must be commenced within three years after the first to occur of:   The removal or resignation of the trustee;    The termination of the beneficiary's interest in the trust; or    The termination of the trust.       For purposes of subsection (1) of this section, a beneficiary is deemed to have been sent a report if:   In the case of a beneficiary having capacity, it is sent to the beneficiary; or    In the case of a beneficiary who, pursuant to part 3 of this article 5, may be represented and bound by another person, it is sent to the other person.       This section does not preclude an action to recover for fraud or misrepresentation related to the report.     History. Source: L. 2018: Entire article added, (SB 18-180), ch. 169, p. 1185, § 1, effective January 1, 2019.
CO Code § 15-5-1006 (2021)
2021 Colorado Code|Title 15 - Probate, Trusts, and Fiduciaries|Article 5 - Colorado Uniform Trust Code|Part 10 - Liability of Trustees and Rights of Persons Dealing With Trustees|§ 15-5-1006. Reliance on Trust Instrument

 A trustee who acts in reasonable reliance on the terms of the trust is not liable to a beneficiary for a breach of trust to the extent the breach resulted from the reliance.   History. Source: L. 2018: Entire article added, (SB 18-180), ch. 169, p. 1185, § 1, effective January 1, 2019.
CO Code § 15-5-1007 (2021)
2021 Colorado Code|Title 15 - Probate, Trusts, and Fiduciaries|Article 5 - Colorado Uniform Trust Code|Part 10 - Liability of Trustees and Rights of Persons Dealing With Trustees|§ 15-5-1007. Event Affecting Administration or Distribution

 If the happening of an event, including marriage, divorce, performance of educational requirements, or death, affects the administration or distribution of a trust, a trustee who has exercised reasonable care to ascertain the happening of the event is not liable for a loss resulting from the trustee's lack of knowledge.   History. Source: L. 2018: Entire article added, (SB 18-180), ch. 169, p. 1185, § 1, effective January 1, 2019.
CO Code § 15-5-1008 (2021)
2021 Colorado Code|Title 15 - Probate, Trusts, and Fiduciaries|Article 5 - Colorado Uniform Trust Code|Part 10 - Liability of Trustees and Rights of Persons Dealing With Trustees|§ 15-5-1008. Exculpation of Trustee

  A term of a trust relieving a trustee of liability for breach of trust is unenforceable to the extent that it:   Relieves the trustee of liability for breach of trust committed in bad faith or with reckless indifference to the purposes of the trust or the interests of the beneficiaries; or    Was inserted as the result of an abuse by the trustee of a fiduciary or confidential relationship to the settlor.       An exculpatory term drafted or caused to be drafted by the trustee is invalid as an abuse of a fiduciary or confidential relationship unless the trustee proves that the exculpatory term is fair under the circumstances and that its existence and contents were adequately communicated to the settlor.     History. Source: L. 2018: Entire article added, (SB 18-180), ch. 169, p. 1185, § 1, effective January 1, 2019.
CO Code § 15-5-1009 (2021)
2021 Colorado Code|Title 15 - Probate, Trusts, and Fiduciaries|Article 5 - Colorado Uniform Trust Code|Part 10 - Liability of Trustees and Rights of Persons Dealing With Trustees|§ 15-5-1009. Beneficiary's Consent, Release, or Ratification

  A trustee is not liable to a beneficiary for breach of trust if the beneficiary consented to the conduct constituting the breach, released the trustee from liability for the breach, or ratified the transaction constituting the breach, unless:   The consent, release, or ratification of the beneficiary was induced by improper conduct of the trustee; or    At the time of the consent, release, or ratification, the beneficiary did not know of the beneficiary's rights or of the material facts relating to the breach.        History. Source: L. 2018: Entire article added, (SB 18-180), ch. 169, p. 1186, § 1, effective January 1, 2019.
CO Code § 15-5-1010 (2021)
2021 Colorado Code|Title 15 - Probate, Trusts, and Fiduciaries|Article 5 - Colorado Uniform Trust Code|Part 10 - Liability of Trustees and Rights of Persons Dealing With Trustees|§ 15-5-1010. Limitation on Personal Liability of Trustee

  Except as otherwise provided in the contract, a trustee is not personally liable on a contract properly entered into in the trustee's fiduciary capacity in the course of administering the trust if the trustee in the contract disclosed the fiduciary capacity.    A trustee is personally liable for torts committed in the course of administering a trust, or for obligations arising from ownership or control of trust property, including liability for violation of environmental law, only if the trustee is personally at fault.    A claim based on a contract entered into by a trustee in the trustee's fiduciary capacity, on an obligation arising from ownership or control of trust property, or on a tort committed in the course of administering a trust, may be asserted in a judicial proceeding against the trustee in the trustee's fiduciary capacity, whether or not the trustee is personally liable for the claim.    The question of liability as between the trust estate and the trustee individually may be determined:   In a proceeding pursuant to section 15-10-504;    In a proceeding for accounting, surcharge, indemnification, sanctions, or removal; or    In other appropriate proceedings.       A trustee is not personally liable for making a distribution of property that does not take into consideration the possible birth of a posthumously conceived child unless, prior to the distribution, the trustee received notice or acquired actual knowledge that:   There is or may be an intention to use an individual's genetic material to create a child; and    The birth of the child could affect the distribution of the trust assets.       If a trustee has reviewed the records of the county clerk and recorder in every county in Colorado in which the trustee has actual knowledge that the decedent was domiciled at any time during the three years prior to the decedent's death and the trustee does not have actual notice or actual knowledge of the existence of a valid, unrevoked designated beneficiary agreement in which the decedent granted the right of intestate succession, the trustee is not individually liable for distributions made to devisees or heirs at law that do not take into consideration the designated beneficiary agreement.     History. Source: L. 2018: Entire article added, (SB 18-180), ch. 169, p. 1186, § 1, effective January 1, 2019.
CO Code § 15-5-1011 (2021)
2021 Colorado Code|Title 15 - Probate, Trusts, and Fiduciaries|Article 5 - Colorado Uniform Trust Code|Part 10 - Liability of Trustees and Rights of Persons Dealing With Trustees|§ 15-5-1011. Interest as a General Partner

  Except as provided in subsection (3) of this section, or unless personal liability is imposed in the contract, a trustee who holds an interest as a general partner in a general or limited partnership is not personally liable on a contract entered into by the partnership after the trust's acquisition of the interest if the fiduciary capacity was disclosed in the contract or in a statement previously filed pursuant to the “Colorado Uniform Partnership Act (1997)”, article 64 of title 7, or the “Colorado Uniform Limited Partnership Act of 1981”, article 62 of title 7.    Except as otherwise provided in subsection (3) of this section, a trustee who holds an interest as a general partner is not personally liable for torts committed by the partnership or for obligations arising from ownership or control of the interest unless the trustee is personally at fault.    The immunity provided by this section does not apply if an interest in the partnership is held by the trustee in a capacity other than that of trustee or is held by the trustee's spouse or one or more of the trustee's descendants, siblings, or parents, or the spouse of any of them.    If the trustee of a revocable trust holds an interest as a general partner, the settlor is personally liable for contracts and other obligations of the partnership as if the settlor were a general partner.     History. Source: L. 2018: Entire article added, (SB 18-180), ch. 169, p. 1187, § 1, effective January 1, 2019.
CO Code § 15-5-1012 (2021)
2021 Colorado Code|Title 15 - Probate, Trusts, and Fiduciaries|Article 5 - Colorado Uniform Trust Code|Part 10 - Liability of Trustees and Rights of Persons Dealing With Trustees|§ 15-5-1012. Protection of Person Dealing With Trustee

  A person other than a beneficiary who in good faith assists a trustee, or who in good faith and for value deals with a trustee, without knowledge that the trustee is exceeding or improperly exercising the trustee's powers, is protected from liability as if the trustee were properly exercising the power.    A person other than a beneficiary who in good faith deals with a trustee is not required to inquire into the extent of the trustee's powers or the propriety of their exercise and, in the absence of contrary knowledge, may assume the existence and proper use of the power being exercised.    A person who in good faith delivers assets to a trustee need not ensure their proper application.    A person other than a beneficiary who in good faith assists a former trustee, or who in good faith and for value deals with a former trustee, without knowledge that the trusteeship has terminated, is protected from liability as if the former trustee were still a trustee.    Comparable protective provisions of other laws relating to commercial transactions or transfer of securities by fiduciaries prevail over the protection provided by this section.     History. Source: L. 2018: Entire article added, (SB 18-180), ch. 169, p. 1188, § 1, effective January 1, 2019.