38-10-121. Purchaser with notice of fraud.

Statute text

The provisions of this article shall not be construed in any manner to affect or impair the title of a purchaser for a valuable consideration, unless it appears that such purchaser had previous notice of the fraudulent intent of his immediate grantor or of the fraud rendering void the title of such grantor.

History

Source: R.S. p. 340, 21. G.L. 1271. G.S. 1530. R.S. 08: 2675. C.L. 5120. CSA: C. 71, 21. CRS 53: 59-1-21. C.R.S. 1963: 59-1-21.

Annotations

 

ANNOTATION

Annotations

Subsequent purchaser takes subject to prior vendee's rights. Under this section and 38-10-114 where a sale of chattels is completed as between the parties thereto, but the possession temporarily remains with the vendor, a subsequent purchaser who has knowledge of the prior transaction takes subject to the rights of the prior vendee. McKee v. Bassick Mining Co., 8 Colo. 392, 8 P. 561 (1885).

The fact that consideration is given for the transfer constitutes no defense if the transferee has previous notice of the transferor's intent. Yetter Well Serv., Inc. v. Cimarron Oil Company, Inc., 841 P.2d 1068 (Colo. App. 1992).

Applied in Burdsall v. Waggoner, 4 Colo. 256 (1878); Welsh v. Noyes, 10 Colo. 133, 14 P. 317 (1887).