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Furniture might be worth 10,000 max but seller wants 35000 in separate transactions from house perchase of 600000 we really want the house so we are forced into this furniture deal . Do we just go along with it and over pay for the furniture and keep the sellers happy it’s like they are hiding... View More 
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answered on Sep 22, 2023
Sorry, it is the seller's responsibility to deal with their taxes. It only becomes a problem for you when you both start colluding not to pay taxes.
The seller has the right to sell his property for as much as they want. We live in a free market so if a buyer will pay it then why not?... View More
My mother's name is on the title and mortgage for the condo I am living in while I pay all the fees. I am set up as a renter with no profits. I am now in a position to take ownership of the property and remaining mortgage. Adding my name to the existing mortgage is not an option. She... View More
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answered on Sep 15, 2023
Unfortunately, this is not an easy situation. If you want to avoid fees, you should probably talk to a tax attorney. I do not think you can avoid all taxes. You may be able to defer taxes or maybe defer then fall into an exception, but Uncle Sam always gets his cut in the end. Your mother could... View More
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answered on Sep 11, 2023
While I am not aware of any penalties, there are benefits to keeping a separate bank account for security deposits. For one, if you are sued, bank records are open to discovery. As such, if you put the deposit in a separate account then you do not necessarily need to divulge your personal records... View More
I live on a property with an adjoined backyard area with no fences. The adjoining property is a communal housing facility. I have been utilizing the full area for several months. I was told by the manager of the asking property that I'm no longer allowed to use "their" portion of the adjoined space.
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answered on Aug 21, 2023
The use of shared or communal spaces often depends on property agreements and the understanding between neighbors. If you have been using the entire adjoined space for a certain period, it might have established a pattern of usage. However, property managers or owners of the adjoining property can... View More
I want to sell the property because I am 8 hours away. Is the lease still valid? Do I have any way out?
* My brother recently passed away.
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answered on Aug 1, 2023
That is a very complicated legal topic. You should contact an attorney.
1st they need to determine who owns the house. Then you need to look at not only the validity of the lease but if you accepted any payments. Next, it depends. But in short, it may not be wise to kick out a potential... View More
deed is still in dead friends name
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answered on Jul 28, 2023
The mother is probably an heir at law of the last owner. She probably has the authority.
We are looking to possibly sell a piece of real estate that is currently blank land. It is used for carnivals and parking. On the same parcel (which would be subdivided). There is an event center which is owned by the City however this land is on the other side of the parcel and undeveloped. I do... View More
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answered on Jul 21, 2023
It sounds like you may have a title issue.
If you are concerned the government is using the land without your permission, it could be a taking or trespass. It is also likely there is some type of agreement on the property. Regardless, you would need to dig deeper into it.
This... View More
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answered on Jul 21, 2023
It really depends. If the property is owned as joint tenants with right of survivorship, ownership can pass by operation of law without any court involvement. In other instances, probate may be required. Regardless, property ownership is riddled with legal complexities. If you do not know the... View More
They are retaliating and trying to provoke me so it'll be easier for them to evict.
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answered on Jul 11, 2023
I am sorry you are dealing with this. You should keep a record of the harassment, talk to the landlord, file a complaint with the housing authority, or consult with an attorney.
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answered on Jul 10, 2023
It depends. I know everyone hates that answer.
In general, if you own a piece of real property, you can add another person as a Joint Tenant. But depending on state law, if the mortgage is a deed of trust or other, the terms of the contract and so on, changing ownership can be an issue.... View More
There is a reverse mortgage on the home the equity outweighs the loan
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answered on Jul 6, 2023
A reverse mortgage allows homeowners who are 62 years or older to convert part of their home equity into loan proceeds without having to sell or move out of their home. With a reverse mortgage, the loan is typically repaid when the homeowner sells the property or passes away.
If there is a... View More
I have several properties in CO, each in it's own separate LLC with me as the only member of each LLC. Does having all the LLC's insured under a PERSONAL liability umbrella defeat the entire point of the LLC's, (which is to keep each property only individually "liable" and... View More
answered on Jun 2, 2023
Hi there, generally your personal liability policy is not going to cover the properties owned by the LLC given that the LLC is not the insured on the policy. You would need to read the policy to be certain. An umbrella policy for all of them could be a solution if there was adequate coverage and... View More
I have one day before a 63 day notice of a rent Increase. That would start 63 days from today Can I sign a new 12 month lease before the 60 days of the time period before the rent increases. So with in thoughs 3 days can I sign a new lease?? I live in a mobile home park.
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answered on May 1, 2023
That's very creative, but you received actual notice of the increase, so if you're asking whether you can avoid the increase by renewing quickly, the answer is no - unfortunately.
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I'm not licensed in your state, so let's make sure someone else doesn't chime in to tell you I'm wrong!
The value of the property is $395,000 In the amount owed is $330,000 and the net value equity is $65,000 and the outstanding debt is 20000 and the down payment was 12,000 which was paid in full by my wife and they are offering me 5,000 for to buy me out and they offering me a chance for me to not... View More
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answered on Apr 21, 2023
Good morning,
I think this is better posed as a math question. There are allot of factors to this question that are not shown here including your risk tolerance, the cost to sell the house, the real FMV. I would think 1st you would need to establish if there is a presumption that you are... View More
We live in an HOA and have houses to our right and left that share fences. The fences were built almost 30 years ago when the development was built and they are now rotting away, as well as the bottom of the 4x4 posts. This has caused the fence to lean to one side (theirs) and one section is about... View More
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answered on Apr 19, 2023
I'd double check all the HOA governing documents that speak to fences. If it is up to your neighbor and you to maintain, repair, and replace the fence as a shared fence, you will have to try to work with them. This can be difficult with contentious neighbors. No matter what you do,... View More
Three were paid off when sibling 1 took out loan. Sibling 2 was in prison and quit claimed but never got their share. What is the best way to fix this situation? Three siblings have no ownership. Sibling one and two have different percentages of ownership but nothing in writing. Sibling 2 currently... View More
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answered on Mar 29, 2023
If the property has already gone through probate and the personal representative distributed all the deeds, then there are numerous options including a partition action, contract negotiation, or other.
If the property did not go through probate, then that may need to happen so the deeds... View More
There is an owner who has built a "screened in porch" off the side of his house, but he built it on the common area, which he does not own. The HOA owns all common areas. I have the papers that show the property lines, and he has definitely built the room on hoa property the... View More
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answered on Mar 10, 2023
Good afternoon,
The HOA will most likely need to file a lawsuit against the property owner. If the structure is on HOA property, then it may fall under trespass law. In the alternative, it may be a breach of covenants. Regardless, if they are not moving it on their own then you may need to... View More
What does this mean on a deed to property in colorado. So where it says Name are the people's name on the deed
answered on Mar 8, 2023
I can't interpret the phrasing on the deed without seeing the entire document, but in general, the phrase "1/3 ENT" likely means a "one-third interest" or a one-third ownership is conveyed to that person. Contact an attorney and ask for help interpreting the deed and... View More
Then ask for an EUO almost 8 months later? They did not ask for EUO with in 15 days. The claim has now drug out to be eight months long. We just received one small payment, and they are not wanting to pay out the rest of the claim which is substantial.
According to our declarations. We feel... View More
answered on Mar 4, 2023
A Colorado attorney could advise best, but your question remains open for a week. More details are needed about the carrier's need for the EUO. You raise a good point. If the claim appears to be turning contentious, you could explore representation. Most injury law firms offer free initial... View More
Our rent was last raised in July. C.R.S. 38-12-702 is supposed to prevent landlords from raising rent more than once in the last 12 months, even for month-to-month leases. Our real estate company wants to impose a 50% fee for month-to-month renters in order to "incentivize" signing a new... View More
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answered on Feb 28, 2023
It depends. If the 50% fee is a holdover fee, then it may be legal. If it is a late fee or rent increase, then it becomes more doubtful. Late fees should not be close to that amount. A rent increase can be to any amount provided they meet the timeframe requirements.
If the fee is not... View More
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