…questions of law or fact common to all plaintiffs will arise in the action. Persons may be joined as defendants if there is asserted against them any right to relief arising out of the same transaction or occurrence, and if any question of law or fact common to all defendants will arise in the action. In a permissive joinder situation, separate trials may be ordered. Misjoinder of Parties Misjoinder of…
…there is any actual distribution of profits. This is commonly known as “flow-through” taxation. II. S Corporations Historically, corporations could qualify as S corporations by meeting the following criteria: there could be no more than 35 shareholders; shareholders could only be natural persons, estates, and qualifying trusts; no shareholder could be a nonresident alien; and the corporation could have only one class of stock. [I.R.C. ‘ 1361(b)] In order to…
…to make your own choices and avoid consuming estate assets with unnecessary court procedures, start making a list today of all “possible” candidates for each fiduciary position. Then, prioritize and narrow down the list. Seek guidance from the lawyer preparing your will if you need assistance. And remember, you can change your mind as circumstances change, without completely redoing your will. For questions about this article please contact Michael Smeenk….
…Power of Attorney A Durable Healthcare Power of Attorney authorizes another person (agent) to make healthcare decisions for you (the principal) when you are unable to make or communicate such decisions yourself. Whereas a Living Will deals only with terminal illnesses and life-prolonging procedures, a Durable Healthcare Power of Attorney gives your agent the power to make or communicate healthcare decisions for you in circumstances not limited to life-and-death situations….
…the size of the company. (C.R.S. ’12-61-808(1)(a)). The statute requires the policy to identify and describe the “. . . relationships in which such a broker may engage with any seller, landlord, buyer, or tenant as part of any real estate brokerage activities.” The Real Estate Commission has not elaborated on the statutory mandate through rules or a published Commission position. However, at a minimum, any agency policy should address…
…unless the landlord complies with the statutory requirements outlined above, the landlord can still seek damages in a counterclaim against the tenant for any damages, other than normal wear and tear, to the rental unit. See, Turner v. Lyon, 539 P.2d 1241 (Colo. 1975). For questions, please contact Jon Goodman. A version of this article appeared in the Colorado REALTOR® News, the monthly publication of the Colorado Association of REALTORS®….
…no ability to meet the demand. Protected by the above default language, it would be rational for the builder to simply refund your earnest money and breach the contract. The solutions to these problems involve allowing you to bring an action for specific performance and/or your actual damages in the event of a seller’s default. Yet, solutions are complicated by: common provisions purporting to preclude your recording of the contract;…
…seller has an interest in knowing, as early as possible, whether the buyers will be able to obtain the necessary financing to buy the property. For example, a seller committing to replacement property may need either assurance of the buyer’s financial ability to complete the transaction, or the seller needs the ability to quickly seek out other buyers. This problem can be addressed by stipulating that the loan approval clause…
…and owners. Listing brokers and owners should be careful about verbal promises of compensation made to tenant broker’s. Owners and listing brokers should be wary of the second point when considering reductions in leasing rates or listing commissions based on their belief that no cooperating commission will need to be paid to a leasing agent. Anticipating that a listing broker need not pay a commission to a cooperating broker, the…
…discovering varmint bites on their arms and legs.) The court may be more willing to enforce liquidated damages clauses for the benefit of reasonable commercial landlords against commercial tenants. Third, though a landlord may have no easily identifiable damages from a tenant’s “orderly breach,” the landlord may still be hurt by early vacation. For example, a replacement tenant may have been content to accept other space in the building. The…
