Determination of Heirs Proceedings: Clearing Title in a Decedent’s Unadministered Property When someone dies, their probate assets are typically distributed through a probate proceeding. However, if a probate proceeding is never commenced, or if certain assets are not distributed through probate, those assets remain titled in the name of the decedent. In order for the … Continue Reading
Co-Author: Jeremy S. Durham At the time of the publication of this article, the seizing of the credit markets seems to have stalled all but the most conservative commercial real estate loans. Many commercial real estate ventures are financed with short term debt. Lenders are not renewing loans that have matured. Other lenders are not providing … Continue Reading
Employees who owe money for child support or maintenance (alimony) may have their wages (including tips) garnished by the employer, so that the child support or maintenance can be paid to the ex-wife or ex-husband. Employers who have to make payroll deductions are faced with difficult choices when trying to understand and implement Colorado law … Continue Reading
In the late 1980’s, the Colorado building community suffered through a bust. In many situations, contractors allowed their account receivables to mount in mistaken reliance upon the perceived strength of their mechanic’s lien rights. Though mechanic’s liens can be tremendously powerful weapons in the collection battle, they are not all powerful. A sound account … Continue Reading
Co-Author: Jeremy S. Durham Buyers at foreclosure auctions must purchase with cash (eliminating much competition), often don’t have the opportunity to inspect the interior of the property, and risk being redeemed out by junior lien holders. Generally, foreclosure buyers acquire properties at below their retail fair market value. While it is intuitive that they should be … Continue Reading
Co-Author: David A. Farus, Esq. On September 1, 2008, Colorado became one of the last states in the Country to impose a warranty from a landlord to a residential tenant that the leased premises are fit for human habitation. Whether this statute will have a significant impact in day-to-day leasing remains to be seen. Even … Continue Reading
Simple Wills and Advance Directives Our firm receives frequent inquires related to the preparation of “simple wills.” Simple wills are sometimes sufficient instruments for clients to direct the disposition of their probate property. However, other clients may need more complex planning tools. This article discusses circumstances for which a simple will may be appropriate, then … Continue Reading
In today’s slower real estate market, lenders are more cautious about making loans and sellers are more inclined to agree to carry financing to sell their properties more quickly. When a seller carry’s financing, the seller bears risk that the buyer might default on the promise to pay back the loan. But if a buyer … Continue Reading
Is it time to buy or lease a new copier or other electronic productivity tool? Read the fine print. When you have a dispute, you have agreed in many cases to “arbitrate” (private court without appeal) rather than litigate. So when it does not work, you will not be suing the vendor for the … Continue Reading
This article is Part I of a two part series. Part II is available at Foreclosure Evolution (Part II). Question: What are the biggest changes in Colorado’s new foreclosure law? Summary In Colorado, the foreclosure process historically gave borrowers two opportunities to pull their property out of foreclosure. Prior to the foreclosure sale, the borrower … Continue Reading
