…this: “The provisions of the Prime Lease are incorporated into this Sublease and shall be applicable to this Sublease as though Landlord under the Prime Lease were the Sublandlord under this Sublease and Tenant under the Prime Lease were the Subtenant under this Sublease.” The subleasing of commercial space, however, is usually too complicated for such an abbreviated approach. Generic incorporation provisions often fail to adequately capture the parties’ intent….
…factor is especially important in a situation where Sublandlord’s financial situation is questionable. Commercial subleases are relatively complicated – they should be tailored to the specific situation. Click on the following link to read Part I of this article, Subleases-Part I. A version of this article appeared in the Colorado REALTOR® News, the monthly publication of the Colorado Association of REALTORS®. For questions about this article please contact Jon Goodman….
…public auction. The judge may cancel this hearing and simply sign the order allowing the sale, if the borrower does not officially respond when given notice. REDEMPTION PERIOD FOR JUNIOR LIENORS: If a home is sold at the public auction, it is followed by a short REDEMPTION PERIOD during which time junior lienholders may pay off the amount bid at auction plus “allowable fees” i.e. taxes, insurance, and any interest…
REPAYMENT PLAN To ask your lender to set up a repayment plan for you, if we represent your lender, then please send a request to our office, via fax to 303-494-6309 or via regular mail to 4750 Table Mesa Drive, Boulder, CO 80305, Attention: Foreclosure Department. Please include your name, property address, lender’s name, loan number, signature, phone and fax number or address where the lender can contact you. Our…
…or not there will be a criminal prosecution. 9. If a protection order (formerly called a “restraining order”) is entered following a 911 call, the couple can’t simply decide that it is OK to have contact with each other and ignore the protection order. Ignoring the protection order can result in criminal prosecution for the protected person and the alleged offender. 8. A protection order entered following a 911 call…
…operation, lenders or other entities using the U.S. Postal Service, television, newspapers, magazines, or the internet to advertise their lots, solicit purchasers, or make offers to sell their lots are likely taking part in interstate commerce and, therefore, subject to ILSFDA. Furthermore, because the Act also broadly defines “subdivision” to include any land, whether or not contiguous, which is divided or proposed to be divided into separate interests for purposes…
…Wash Leasing v. Consolo, an Ohio court ruled that a landlord’s duty to mitigate on behalf of a guarantor is not excused because the defaulting tenant has not vacated the property. In those instances, the Ohio court ruled that the landlord actually has a duty to “commence eviction proceedings in an effort to mitigate damages.” Thus, at least one court has held that the landlord’s duty to mitigate on behalf…
It is more complicated to diagnose whether some potential problems exist, than to simply address them, regardless of whether the problems exist or not. It is so easy to put on a seat belt, the risk analysis of whether it is worth wile to do so is complicated, and the consequences of not buckling up are so significant, that most of us just buckle up every time. Compliance with the…
…about how to avoid wasting their time and other resources. This article intends to help real estate brokers understand what they need to know about bankruptcy law. This is not intended to be an overview of bankruptcy law. The article merely focuses on what real estate brokers need to know about bankruptcy law. The article discusses common resolutions of common scenarios, but the reader should be mindful that there are…
…community property.” Under Colorado law the result of this language is a tenancy in common, which allows each spouse to pass half of the property through his or her own estate. A joint revocable living trust is a superior vehicle for retaining community property in Colorado, as no special community property language is required on a real property deed or on an investment account titled in the trust, as long…
