Colo. Rev. Stat. » Title 15
Colorado Revised Statutes

Colo. Rev. Stat. § 15-12-712 (2026)

Improper exercise of power - breach of fiduciary duty

✓ current as of July 2026
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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.

15-12-713. Sale, encumbrance, or transaction involving conflict of interest - voidable - exceptions. (1) Any sale or encumbrance to the personal representative, his spouse, agent, or attorney, or any corporation or trust in which he has a beneficial interest, or any transaction which is affected by a conflict of interest on the part of the personal representative, is voidable by any person interested in the estate except one who has consented, unless:

(a) The will or a contract entered into by the decedent expressly authorized the transaction; or

(b) The transaction is approved by the court after notice to interested persons.

(c) Repealed.

(2) Any transaction previously declared by subsection (1) of this section to be void shall be deemed voidable unless a petition has been filed with the court to set aside any such transaction and a lis pendens has been recorded in the county where any affected real property is located, within sixty days after July 16, 1975. Source: L. 73: R&RE, p. 1589, § 1. C.R.S. 1963: § 153-3-713. L. 75: IP(1) amended,

(1)(c) repealed, and (2) added, pp. 596, 606, §§ 29, 62, effective July 1.

Notes of Decisions
Cited in 2 cases, 1982–2020 · leading case: of Treviño, 2020 COA 125 (Colo. Ct. App. 2020).
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of Treviño, 2020 COA 125 (Colo. Ct. App. 2020). · cites it 2× “§ 15-12-712, C.R.S. 2019. The surcharge statute states that, if a court determines there was a breach of fiduciary duty, “the court may surcharge the fiduciary for any damages or loss to the estate, beneficiaries, or interested persons.”
Fry & Co. v. Dist. Court Ex Rel. Cnty. of Adams, 653 P.2d 1135 (Colo. 1982). · cites it 3× “Section 15-12-712, C.R.S.1973. Absent contrary provisions in a decedent’s will, not present here, a personal representative’s broad statutory authority is fully adequate to support the initiation of a partition action where the estate assets include an undivided interest in real…”
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