Promissory note secured by a deed of trust for real property does not create an interest in land. Since Colorado is a lien theory jurisdiction, statute of frauds does not bar suit on oral agreement to execute and deliver a mortgage upon real estate.
Interest in deed of trust is not an interest in the underlying land. 306, 592 P.2d 792 (1979).Īgreement restricting use of land is not within statute of frauds because it does not relate to an interest in land but merely to its use. Statute of frauds is inapplicable to equitable trusts. An executory contract involving title to, or an interest in, land may be rescinded by an agreement resting in parol. Rescission of executing contract by parol agreement permitted. Statute of frauds inapplicable to executed contracts. Statute of frauds is inapplicable to revocation of contracts. Statute of frauds only concerns making of contracts. For article, “Signatures on Documents Affecting Title to Colorado Real Property - Part III”, see 12 Colo. For note, “A Survey of Colorado Water Law”, see 47 Den. For article, “An Aspect of Estate Planning in Colorado: The Revocable Inter Vivos Trust”, see 43 Den.
For article, “Express Trusts in Colorado”, see 10 Rocky Mt. No estate or interest in lands, other than leases for a term not exceeding one year, nor any trust or power over or concerning lands or in any manner relating thereto shall be created, granted, assigned, surrendered, or declared, unless by act or operation of law, or by deed or conveyance in writing subscribed by the party creating, granting, assigning, surrendering, or declaring the same, or by his lawful agent thereunto authorized by writing.
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