The REALTOR® listed the sellers’ house and started working hard to sell it. Along comes the flipper and asks if he can buy it at a reduced price in a short sale. The REALTOR® writes the contract and submits it to the seller who signs it and then it is submitted to the lender … Continue Reading
Many divorcing couples don’t have sufficient financial resources to consider buying a new home while the divorce process is happening. But for those persons fortunate enough to have good credit and what appears to be adequate income to buy a new house before the divorce is final, the home purchasing process can be a rocky … Continue Reading
I am the Chairman of the Board of Directors for a non-profit Colorado corporation. The members of the Board do not live or work in the same area, and all have busy schedules. Sometimes we need to make decisions without waiting for a time when all of the directors can meet in person. Can … Continue Reading
Rule E-44 Reminder: Is Your License Still Active? If you are a real estate broker, you may want to go online to www.dora.state.co.us/real-estate to confirm that your license is still active. The Colorado Real Estate Commission Rule E-44 requires a real estate licensee whose license has transferred to inactive status to immediately cease any … Continue Reading
Overview The Colorado Legislature passed Senate Bill 71 in 2006 to discourage predatory practices against persons in foreclosure. Violations of Senate Bill 71 can lead to criminal sanctions and, unlike the major changes to Colorado’s foreclosure statutes, Senate Bill 71 has been in effect since the summer of 2006. Senate Bill 71 regulates “Foreclosure … Continue Reading
Co-Author: Miriam Abrams Goodman, Esq. Question: What is a “beneficiary deed” and how are they useful in Colorado? Response: A beneficiary deed is a legal document to pass title to real property to a “grantee-beneficiary” at death, without the need for probate administration. In Colorado, probate can be avoided if the decedent’s estate consists … Continue Reading
The concept of children marrying adults is a reality in Colorado. In a recent decision by the Colorado Court of Appeals, the Court determined that a young girl’s marriage to an older man was legally valid despite her age. The statutory age of consent for marriage in Colorado is eighteen. Nevertheless, persons between sixteen and … Continue Reading
The Importance of a Properly Executed Will, and What it Does and Doesn’t Control In Colorado, signing a will with the proper formalities can make a big difference in the administration and distribution of your estate. Colorado has a progressive, consumer-oriented probate system. Commentators in the national media constantly warn the public to “avoid probate,” … Continue Reading
Co-Author: Amanda S.P. Howe More on Affiliated Business Arrangements Some service businesses try to operate as simply as they can and out-source all services but their core competencies. Other businesses seek to provide one-stop shopping for customers. One stop shopping can enhance the quality of the services to the customer and help the business amortize its … Continue Reading
Co-Author: Amanda S. P. Howe, Esq. Brokerage Duties Addendum to Property Management Agreement Question: I am a licensed real estate broker. In addition to helping owners lease property, I help my owner clients manage their portfolio. I understand that the Colorado Real Estate Commission has created a form called “Brokerage Duties Addendum to Property … Continue Reading
