B's son will have to open an ancillary probate in Colorado. Then he can record A's death certificate, a certified copy of the Colorado Letters and a Personal Representative deed to you. A's interest evaporates upon death and B's estate has the right to convey the estate property.
While our tax system is voluntary in the sense that you file a return and send in the money you owe, you will quickly find out how involuntary it is if you fail to do so. Many people have refused to file and have argued that they don't have to pay taxes. Most of them are in federal prison.
he is 3 months behind, has changed his number and I have no way to get ahold of him, I sent a letter over 30 days ago and he has not answered do I have to forclose or can I just reposse and get the title back in my name
It sounds like this was a straight sale and the property was deeded to the buyer. If title is in the buyer's name, you will have to foreclose to get it back. If you are able to contact the buyer, you may be able to get him to sign a quitclaim deed conveying the property back to you in exchange...Read more »
Colorado law provides a homestead exemption of $75,000 (or $105,000 if you are over 60 or disabled). If the exemption is properly claimed in Schedule C of your bankruptcy petition, the trustee is bound by it. If you have more than that amount of equity, the trustee has the right to sell your house....Read more »
Here 22 years and have made many improvements. I plan to buy a smaller place in Tx. The listing price is $550000. I am single and understand the first $250000 doesn't have capital gains. What about the rest of the profit?
You must first calculate your cost basis which is the purchase price plus the cost of any improvements. Subtract that amount from the proceeds (minus costs of sale). The first $250,000.00 of profit is exempt from taxation. Anything over that is taxed at capital gains rates.
How can the new company, Panacea Life Laboratories, using the same equipment, work space, employees, etc, now magically NOT be liable to pay employee wages and other legal debts incurred prior to that bankruptcy?
The United States Bankruptcy Court for the District of Colorado website shows no such case filed under that name. Generally when a company files bankruptcy (Chapter 7), it's assets are liquidated and the funds are used to pay creditors. Wages owed to employees have one of the highest...Read more »
My home is in foreclosure, but I have a buyer. The Rule 120 Hearing is scheduled for 02/09 and the auction date is 02/28. The buyer and myself have aimed for a 02/23 closing. Not wanting to cut it too close, I asked the mortgage co's attorney if she would be unopposed to continue the hearing... Read more »
It sounds like the foreclosing lender/attorney is being reasonable. Read the Stipulation carefully and make sure it says what you think it says - you are agreeing to waive your Rule 120 rights in return for an extension of time. Verify with the Public Trustee that the sale date has been extended....Read more »
Who ever holds the promissory note can demand payment from you based on the terms of the note. Sometimes the holder of the note will delegate the "servicing" to another company. That company then has the power to demand payment and to foreclose if there is a default. You don't give...Read more »
You can't leave any of your property out of a bankruptcy. You may be able to exempt certain property, but you must disclose everything. Typical Colorado exemptions are the $75,000.00 homestead exemption ($105,000 if one is over 60 or disabled), $7500 for up to two vehicles ($12,500 if over 60...Read more »
The chimes violate the covenant against sound devices (which include bells, whistles, etc.) being installed on a structure or in a site. There is also a covenant that says a covenant cannot be waived. But the Architectural Control Committee (ACC), the covenant enforcement branch of our HOA,... Read more »
Every planned community is subject to rules called CC&Rs (covenants, conditions and restrictions). You should read them carefully and determine exactly what duties and powers the HOA has. If your neighbors are in violation, the HOA may have a duty to enforce to rules. If they refuse, they can...Read more »
It's true. Property tax, sales tax and state tax deduction cannot exceed $10,000.00 per year. You may be able to deduct more property tax than that in 2018 (though not sales or income tax) if you pre-paid taxes in 2017.
Looking to buy land/develop homes for a business. Have multiple friends involved. Can one of us get the mortgage and then right up a contractual agreement between us to hand out ownership %'s? So for example, the person with the strongest credit gets the mortgage/loan to build and they own... Read more »
It's theoretically possible, but there are some complications. Most deeds of trust have a "due on sale" clause. This means that if you transfer an interest in the land to your partners, the lender can call the loan. You should disclose all material facts to the lender and get written...Read more »
My new sister in law's daughter was murdered by her father who at the time had custody and is now serving a life sentence. She is trying to claim her daughter's ashes in the state of Colorado but isn't sure which type of probate it would be under or what paperwork she would need to... Read more »
Colorado Revised Statute 15-19-106 lists and prioritizes the persons who have the right to a decendent's remains. If there was no designation in a will and no surviving spouse, the mother would have a statutory right to the remains. If the matter can't be resolved otherwise, a probate...Read more »
You don't have a direct claim against your ex-husband's father's estate. However, you have the right to garnish the estate for the money owed you. If you have not done so already, have the claim reduced to judgment (a pretty easy process) and serve a writ of garnishment on the...Read more »
It depends on the type and amount of the estate assets. If he owned real estate which was not held in joint tenancy with someone else or if he had personal property valued at more than $66,000.00, then a probate estate must be opened. If not, you may collect assets and distribute them by using the...Read more »
You have a statutory priority as a child of the decedent and should check that box. Your step sister has a prior right because she was nominated in the will, but she has renounced it. It's a good idea have her complete Form JDF 912 (renunciation) and file it with your application.
We discovered the damaged garage one month after closing, which prompted us to check to see if he had pulled permits on the garage and found out he didn't pull any permits for anything, including the interior renovations, roof, fence, garage.
The Colorado Seller's Property Disclosure asks seller to disclose if any work was done without proper permits. If the seller did not disclose this and you are damaged or defrauded because of it, you will have a claim against seller and possibly his broker. Under Colorado law, sellers of...Read more »
Maybe. You will have to file a formal probate and request a hearing. It will be up to the judge to determine if the will is valid based on certain statutory requirements. If all interested persons agree to stipulate that the will is valid, the court will likely accept it.
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