Sales Contract (Residential): I am equipped to assist, and happy to help. Would be best if you sent along the proposed/pending Contract via email, and I'll supply you with a responsive email identifying the Fixed Fee to perform review, analysis, and advice. Thanks. jamesgreer@CalCoLaw.com...Read more »
I have an existing business that is an LLC and we are moving to a new location for our business. In the new lease it calls out in our addendum for both LLC members to give a Personal Guarantee, does this negate the personal property protection that our current business LLC gives us? Should we seek... Read more »
Dear LLC Lessee: It is standard practice for a Lessor to require a Personal Guarantee ("P.G.") from the Members of an LLC. The reasoning from a Lessor's standpoint includes the primary concern that an entity (an LLC, for example) can breach a Lease by simply winding down and dissolving, thereby...Read more »
The trust demanded a promissory note and deed be signed after the purchase of the home. They said to ignore the promissory note and not to worry about the details of the deed (which incorporated the note and referenced it)! We declined / refused as the details were not anything discussed, nor... Read more »
Dear Trust Borrower For Purchase of Real Estate: While I don't have the full understanding of you/Borrower understanding of the loan and the details therein, I have to offer this generalized advice: it is "usual" that a Lender of money for purchase of real property would want to be "secured" in...Read more »
How to we have lien removed? It appears that only contractors, etc are able to use mechanics' liens (which this is not) and any other valid liens must be ordered/approved by the court prior to being filed (this is not the case here either).
Dear Liened Property Owner: In order for a lien to be "properly" recorded onto the title of your property it must either have been: (1) from a supplier of construction labor, services, materials; (2) a judgment creditor; or (3) a lender. The lien itself will describe the claimant (names and...Read more »
The pipes were drained after the inspection to keep from freezing. However, the listing agent turned the water back on before closing. If the pipes freeze and burst before we close, who is responsible for the cost of fixing that?
Dear Frozen Pipes Seller: the rule of law in Colorado Real estate sales contract is that the SELLER (and the Seller's insurance carrier) is responsible for all property damages occurring at the subject property until the moment of "closing" (or, the moment the title is transferred to Buyer).
We are six months into a two-year lease. Found out tenant has her daughter living there. No notice given. Lease states occupancy "...no more than two adults without prior written permission from Lessor." Technically is my tenant in breach of the lease?
Dear Landlord With Potential Breaching Tenant: An occupancy limit can be a valid condition to a Lease Agreement and if your current tenant has concealed the fact that they exceeded the occupancy then they are technically in Breach of Lease (more than two tenants, including one minor). Of...Read more »
Dear Girlfriend Needs Clear Title: Your options are to achieve ex-boyfriend's voluntary transfer, or else you'll be forced to file an action in District Court. If through voluntary means: present a recordable Quitclaim Deed for him to sign before a Notary and then record the Quitclaim and a...Read more »
There is an old post fence that I would like to replace with a privacy fence between my backyard and a portion of my neighbors front yard. It would be a property line fence. Does Colorado Title 35 article 46 section 112 require my neighbor to share in the cost burden of such a project? Or would... Read more »
Dear Fence Line Property owner: The section you cite is pertinent to "agricultural or grazing lands". While you didn't make a distinction in your question, the legal authority supports your desires only if you are speaking about agricultural land. Here is the citation:
Dear Prospective Land Purchaser: I can almost always offer an educated opinion even if I have to impute some information in order to supply a response to our fine Justica clientele. This one - it has too many complex nuances for any attorney to SAFELY supply a response. I'll offer this: the...Read more »
Dear Mechanic’s Lien Defendant: in reply to inquiring about the type of attorney, you should employ an attorney whom has experience in your local jurisdiction in construction litigation, more specifically one whom understands the nuances of filing a “Petition For Release Of Mechanic’s...Read more »
I just built a modular home on my property. I want to know if I should hold out on final payment until all "issues" are satisfied i.e. things that don't work not finished to my approval etc. They expect full payment upon my moving in but what leverage do I have to get things done?
Newly Constructed Homeowner: The answers to your questions, for the most part, will depend on the contents of your Construction Contract with the contractor/installer. Your questions about "disputing the costs of tradespersons / materials" imply that you did not have a Fixed Fee contract but...Read more »
It was dropped off on 4/8 and trackinf shows it cashed 4/10. He did not contact us until 4/15 to claim he did not get it. He is demanding a late fee and a double payment on the next due date. He also is requesting we revise our original agreement. He has not specified the changes he wants. We've... Read more »
Dear Potential Eviction Client: While I endorse the efforts you are making to show the Owner that the Owner endorsed the payment, in the meantime if you are able to afford it I would strongly recommend you go ahead and expedite making the payment that is being demanded (a second time, in your...Read more »
They have moved to Powell Wy but keep the mountain house. They asked if we want to be co-owners with them and maintain the place as co-owners. The mountain house is paid for so we would pay them 1/2 the amount of an agreed price with an option to purchase the remaining 1/2 at a later time. How do... Read more »
Dear Mountain Property Purchaser: My recommendation would be to enter into a basic and straightforward Purchase Agreement With Option, whereby you pay the 1/2 purchase price in consideration of the receipt of a Quitclaim Deed for 1/2 of the title. Best practices would be to obtain Title Insurance...Read more »
Boulder Townhouse / Condo Owner: The analysis of your question may require more information as I am reading what appears to be conflicting terminology. However, I'll make an effort to assist, while qualifying my answer. If you "own" the title to your unit, then indeed you have a condominium...Read more »
What is actually at risk in a lawsuit scenaria with a rental property LLC? Is there any difference if the property remains in the property owners name or the name (deed re-titled) of the LLC? Thank you
We are afraid that the city could forcefully take the home from us. We are not allowed to live in it because of the problems; but are finding it difficult coming up with the finances to get the issues resolved. We are one step away from becoming homeless.
Dear Colorado Springs Code Violations: In order to assist, I need to make clear that while it is accurate that a Municipal Governing Body (you mention "city") has the jurisdiction to warn, issue violations, and sanction a property (you'll know when this happens as you will be served several levels...Read more »
Dear Partial Owner Real Estate Issue: An attorney would need more information to properly respond. However, generally speaking if you're inquiring about an LLC and if that LLC has a "majority vote" mechanism to authorize the sale of real property held by the LLC, then this is the analysis: (1)...Read more »
Dear Colorado Rental Property Owner: there is nothing precluding the placing of multiple property titles in the same Colorado LLC, but there are several cautionary "tales": (1) a lender will not supply the owner with mortgage loan on the fifth property inside the same LLC - in other words a...Read more »
Dear Colorado Condo Purchaser: You've asked if your Seller "needs to pay for assessment for issues that occurred [while the Seller owned the condo unit] in 2017". There is a two-step process to answer the query. First: insofar as the Seller of a condo is required to supply you with...Read more »
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