FREQUENTLY ASKED QUESTIONS Different laws and regulations require different business models to address different issues. To help guide you about what you need to change, and what you do not need to change, below are answers to frequently asked questions. Q: If I am a one person brokerage firm, or one independent broker operating without a brokerage firm, do I need an independent contractor agreement? A: No, you do not…
…a board or by multiple managers must be selected in order to avoid a patent ambiguity in the agreement. Also, a well-crafted Operating Agreement must address if the board members are allowed to vote by proxy. In view of the recent events due to COVID-19, companies should also review their Operating Agreement to ensure it does not prohibit virtual meetings. In addition, companies should review their agreement for any restrictions…
…personal representative (PR), also called the “executor” in some states, and the issuance of “letters,” which give the PR authority to act on behalf of the estate. Probate can be costly and time-consuming. Costs include court fees, appraisal and valuation fees, publication fees, and attorneys’ fees. In Colorado, the probate process takes a minimum of six months to complete, but can take several years, depending on the complexity of the…
…part of your probate estate and can normally avoid the probate process entirely. Under each of these five options, there are specific income tax as well as transfer taxes (gift/estate/generation skipping) which need to be considered. The above is for general discussion purposes only. You should consult an attorney before implementing any estate planning strategies. Please contact me to answer any questions you may have regarding probate or estate planning….
On April 30, 2020, Governor Jared Polis issued Executive Order D 2020 051 (“Executive Order”), providing further eviction relief for tenants and mobile home owners. The Executive Order Generally: Precludes the filing of eviction actions based upon a tenant’s default of any contractual obligation imposed by a rental agreement. This prohibition applies to residential and commercial premises; Prohibits the removal or exclusion of a tenant from a premises or entry…
Coronavirus COVID-19 Clauses that Dovetail with the CREC System https://youtu.be/kTH-7NH4sBc This is the fifth video in our six part series on Coronavirus COVID-19 providing solutions for managing Coronavirus COVID-19 risks in the Colorado Real Estate Commission form system. If you seek to have us provide such clauses to you as your lawyer, then please contact Andrea Webster at 303-494-3000 to schedule an appointment….
Parenting time exchanges and concerns about your child’s health while in the other parent’s household for visitation or parenting time can be challenging during the COVID-19 coronavirus isolation, quarantine and shutdown periods. There are some basic concepts to keep in mind concerning how divorce, allocation of parental responsibilities (custody) laws and parenting time (visitation) laws work in relation to COVID-19 coronavirus isolation, quarantine and shutdown concerns. Compliance With Governmental Emergency…
…landlords should not engage in self-help evictions, as doing so exposes landlords to claims for damages, costs, and fees incurred by the tenant. The reality for most COVID-19 situations is that property owners and tenants have to work together to come up with a solution. As of now, there’s no one-size-fits-all answer. If any sort of change to the lease is necessary due to COVID-19, the parties should absolutely document…
…is how to fill out the mortgage loan application. In divorce cases, each party will need to complete a Sworn Financial Statement and Supporting Schedules, and provide the other party with other financial disclosure documents. There may also be answers to interrogatories (written questions) and responses to requests for production, where financial information was provided (those things are referred to as “discovery”). The mortgage loan application should be truthful and…
…loan debt, does not include a loan. McDaniel v. Navient Solutions, LLC (In re McDaniel), 590 B.R. 537 (Bankr. D. Colo. 2018). In McDaniel v. Navient Solutions, LLC, Judge Kimberley H. Tyson distinguished between private loans and obligations to repay funds received as an educational benefit, scholarship, or stipend, holding that private loans are not subject to the exception set forth in 11 U.S.C. Section 523(a)(8)(A)(ii), and therefore, non-qualifying private…
