Bill > SB049

This bill amends a Colorado law concerning real estate titles when a deed is transferred before the entity named as the grantee, meaning the recipient of the property, has been legally formed. Specifically, it clarifies that if a deed describes an entity that hasn't yet been formed, the title to the real property will automatically vest, or transfer, to that entity once it is legally formed, without requiring any further legal documents. The bill also defines "entity" and "formed" by referencing other sections of Colorado law, ensuring consistency in legal terminology. This change applies to deeds delivered on or after the bill's effective date.