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Current as of January 01, 2025 | Updated by Findlaw Staff
(1) Upon proper application to the court or by stipulation between the parties, the respondent may withdraw from the sum deposited pursuant to section 38-7.5-103(2) an amount not to exceed three-fourths of the highest valuation evidenced by testimony presented by the petitioner to the commissioners unless the petitioner agrees to a larger withdrawal. All parties interested in the property sought to be acquired are required to consent and agree to any larger withdrawal.
(2) Any withdrawal of a deposit is a partial payment of the amount of total compensation to be paid and must be deducted by the clerk of the court from any award or verdict entered thereafter.
(3) Any party making a withdrawal of a deposit shall refund to the clerk of the court, upon the entry of a proper court order, any portion of the amount so withdrawn which exceeds the amount finally ascertained in the proceeding to be just compensation or damages, costs, or expenses owing to the party.
Cite this article: FindLaw.com - Colorado Revised Statutes Title 38. Property Real and Personal § 38-7.5-104. Withdrawals from deposit - last updated January 01, 2025 | https://codes.findlaw.com/co/title-38-property-real-and-personal/co-rev-st-sect-38-7-5-104/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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