Author Archives: Michael Smeenk

What is a Personal Representative’s Deed?

When someone dies owning an interest in real estate, the legal instrument used to convey the property is a Personal Representative’s Deed.  In the deed, the Personal Representative (“PR”) of the estate transfers the deceased owner’s interest to either a third-party buyer or an estate beneficiary. Does a Personal Representative’s Deed Require a Probate Administration?… Continue Reading

Why Do I Need a Will?

Many people understand that a will acts as the roadmap for distributing someone’s assets upon death. However, not everyone realizes that a will does much more than specifying who receives what. Some of the other important functions that a will can serve include the following: Nominate a Personal Representative. The PR collects the assets of… Continue Reading

Clearing Title When Tenant-in-Common Owner Dies

Clearing Title to Real Estate When a Tenant-in-Common Owner Dies Q:  How is title to real estate cleared when someone dies owning property as tenants in common with other owners? A:  Through a probate proceeding. I frequently hear from sellers or real estate brokers when they discover the following closing Requirements on Schedule B-1 of their title… Continue Reading

How Does Seller Financing Work?

How Does Seller Financing Work in Colorado Real Estate Deals? Q:  I’ve listed my home for sale. A potential buyer is interested, but can’t qualify for a loan. Is there some way to facilitate the sale without an outside lender being involved? A:  Yes – if the seller acts as the lender. This article will describe seller… Continue Reading

Dodd-Frank, Consumer Financial Protection & Owner Financing

What do Dodd-Frank and Consumer Financial Protection Bureau Regulations Mean for Owner Financing in Colorado? The Dodd-Frank Wall Street Reform and Consumer Protection Act (“Dodd-Frank”) introduced a host of new regulations designed to protect consumers and avoid another housing collapse. Key components of Dodd-Frank were designed to create greater certainty that borrowers can repay their… Continue Reading

Loan Modification Anatomy

Many homeowners ask about the criteria for obtaining a loan modification through their existing lender. I have successfully assisted dozens of borrowers in obtaining modifications. This article will summarize some of the key characteristics of a successful loan modification request. However, before proceeding through these steps, borrowers may wish to contact their lender about a… Continue Reading