Colorado Real Estate Legal Questions

The foreclosure has no bearing on your responsibility to pay rent.  The question is, if you do not pay rent will they be able to evict you prior to the time you would have to leave because of the foreclosure sale and will they even have the appetite to defend their lease in the final month of ownership? You are entitled to your deposit. Hope that helps, Don Eby... Read More

Based on the facts you present, a personal representative deed should work for you to give you title to the property which can then be transferred as needed.  I recommend that you consult and attorney for complete view of the facts and circumstances to ensure that you do not cost yourself thousands of dollars by trying to save a few hundred.   Call me I can help, Don Eby 303-688-0944... Read More

This is an interesting question that you pose.  I assume you are referring to your HOA as using the Proxies previously submitted to establish a quorum. Most proxies are specific to an individual meeting.  But, the poxy should annotate on its face the period of time during which or the specific meeting for which it is valid. Don Eby... Read More

I'd like to help you get to the bottom of this, but I'll need more facts. It is very unusual for a 2nd to foreclose, because the 1st remains after the foreclosure.  Bank 1 is named on the first deed of trust, but until they foreclose they are not the "owner." If you are considering hiring legal counsel to help you with this feel free to call me for a free consultation. Don Eby 303-688-0944... Read More

First, you raise the question of bankruptcy, that is certainly an option and has some advantages if you are considering a short sale.  Definitely, do no raid your retirement accounts to pay the lienholder! Do you need legal representation for the short sale?  That is a question that only you can answer, however, I think that an attorney would more than pay for himself. Feel free to contact call my office and ask for a free consultation with Ryan if you are interested in exploring your bankruptcy option or with Don for assistance in executing your short sale. Don Eby 303-688-0944... Read More

You say he has an obligation to the mortgagee.  I'll assume that since his creditors are filing liens against the home that you hold title jointly with your cousin. Unfortunately, he has an ownership interest in the home and these lienors will continue to file liens against the property as long has he is on title.  I recommend a partition action to force the sale of the property.  Or, a suit by you against him for the money damages incurred so far, that may bring him to the negotiating table where he would agree to sign a deed to you. Hope that helps.   If you decide you want to hire an attorney to help you in this matter or a free consultation to discuss the facts in depth call my office and ask Michelle to schedule you onto my calendar. Don Eby 303-688-0944... Read More

If your rent is indeed paid and you are not in violation of any other terms of the lease your landlord cannot unilaterally end the contract.   At this point his notice is not a valid 3 day notice which would be required to start an eviction.  If Your landlord begins to evict you based on failure to pay rent or wrongfully withholds your security deposit, you should contact an attorney for help.... Read More

Ms. Bielak, That is a a very complex question and involves more than legal advise.  I do not understand why you would need to spend from your equity prior to the sale.  I could see that at the time of sale closing you may need to bring money to the closing to complete the sale.  Foreclosure, refinancing, and bankruptcy all come to mind as possible solutions.  If you allow the rental to be foreclosed upon and it eventually sells for less than the balance of the loan, you will likely be presented with a 1099 for income based on that shortage amount.  However, the lender from the rental house could not force you to sell your primary residence to cover the shortage.  I hope this helps. Call me for a free consultation if you need more information. Don Eby 303-688-0944... Read More

Lori, The filing of a bankrupcty puts into place an automatic stay on the collection of all debts.  So the simple answer is someone will be responsible for returning this money to the bankrupcty estate.  Your issue is whether you or your collection agency is responible which will be governed by your contract with the agency.  I would recommend reading the contract with the collection agency very carefully to see how this or a similar situation will be handled.  The question I would ask is how would the collection agency force you to return the money, they took the money from the account and the bankruptcy court will look to them to replace it. Hope that helps, if you would like to discuss further, I'd be happy to schedule a consultation with you. Don Eby... Read More

Charyl,   Your question leaves me with a lot of questions.  Did you jointly purchase the condo?  Did your ex- receive possession of the condo as part of your divorce settlement?  Was your name ever removed from title?   I'll presume that since the debt collectors are calling you that your name is still on title.  I'm not exactly sure how it works in Mexico, but I suspect that if you do not pay the fees that your failure will be reported on your credit and eventually the condo will be repossessed by creditor.  If these things do not bother you then you do not need to pay the maintenance fees. I hope this helps.... Read More

Carri,   Obviously, the first problem that you have here is that you allowed your Mother, the former owner, to place the leach field on your property.  But, now that someone else owns the property, your brother, you want the leach field either removed or you want compensation. The issue here is that you have provided the previous owner an easement on your property, but did the easement automatically transfer with the property or must the new owner craft a new agreement with you to maintain the easement?  This question will only be answered with a more indepth factual analysis.  Do you have any written agreement?  Did you make any agreement with you brother?  Can the leach field physically be located on your brother's property? I offer a free consultation and would be happy to discuss this matter with you in more detail if you will call me office and schedule an appointment.  Call 303-688-0944 and ask for Don. ... Read More

Susan,   I suspect that there is reason for your concern but I cannot completely understand the situation or offer advice based on a one sentence question. I do however, offer a free 30 minute consultation to discuss potential client's issues and determine if I can help them.  If you are interested please call my office to schedule an appointment. Don Eby 303-688-0944... Read More

Amy, Unfortunately, the answer to your question is that it depends upon the type of lien and the type of bankruptcy.  Yes, it is possible that the lien may stay attached to the property. I'll be happy to discuss this with you in detail during a free consultation.  Call Susan,  our receptionist, at 303-688-0944, to schedule an appointment. Don Eby... Read More

Mr. Cook, From your question it appears as though you have searched for a lien against your home but have not found one, but you are concerned that the lender on the RV will find that you are selling your home and attempt to lien you home to collect any remaining debt on the RV.  It is unlikely that the lender on the RV will lien your home.  If it were going to happen it probably already would have.  Also, you would have had to of pledged your home as additional collateral on the RV loan, which is unlikely. Let me know if you have any issues during the sale of your home.... Read More

It is always a good idea to have a lawyer or a real estate broker to help with the sale of a house. You are dealing with the most expensive asset most people own and problems that arise with the sale of a house are almost always expensive to fix, so hiring a lawyer is relatively inexpensive insurance (many lawyers, like me, do residential real estate transactions on a flat fee basis). That being said, I think it is more important for the buyer than the seller to have a lawyer or a real estate broker assisting them, since more can go wrong from the buyer's side (i.e., the buyer is dealing with the due diligence, title, survey, loans, inspection, etc.). I hope this helps. ... Read More

Carol, Are you referencing the annual maintenance fees for the condo?  The association could put a lien on your condo to recover the fees should you ever sell it and they could foreclose on your condo to recover the payment.  Many times these timeshares structure the agreement so as to create personal liability as is seems has been done here.  I'd have to read your documents to determine.  Personal liability will reflect negatively on your credit report if you intend to barrow money in the next few years.  Many times when an account has been sent to collections, you can settle it for less than the principle amount. Have you considered selling the condo to pay the fees? I can help you with your collection issue and I offer a free initial consultation.  Call me.... Read More

Lisa, From the above I'll assume that you are a CO Real Estate Broker and you used the CO Real Estate Commission approved forms. You have a contract to represent the daughter but since she could not close you then functioned as the broker for the father to purchase the house, but never got a exclusive buyer's contract signed with the Father.  The Fathers' contract with the seller was not an assumption but a new contract?  If we can show the the Father was purchasing the house for his daughter then we may be able to create liability with the daughters contract. This is going to be a very fact based claim.  The specifics of the written contracts will control.  I offer a free initial consultation to discuss the specific facts of your case. Feel free to call me, Don Eby  ... Read More

Cynthia, Banks do make errors and they are generally reluctant to fix the problem without significant force.  If there was no subordination agreement then Wells now is the 1st lender.  I presume that Citi is the one upset by this even though it is a problem of their making.  With what is Citi demanding that you pay off the Wells loan?  You loan contract will control here, depending upon if it states that it must be a first position loan.  Lenders are under scrutiny, I recommend that you get some professional help rather than fight this on your own.  There are a lot of facts that need to be discussed, many more than we can cover on email. I offer a free initial consultation, call me. Don Eby... Read More

Cathy,   The procedure that you are inquiring about is called "partition."  This is how co-owners force the division or sale of a jointly owned property.  We would need to explore exactly how the title is being held and other facts before going forward with this but, it can be a fairly quick and inexpensive process. I offer a free consultation if you need help. Don Eby... Read More

I am sorry for your loss. If the property was held in joint tenancy with right of survivorship, you need to file what is callled a supplementary affidavit with the county to remove your husband's name from the title (the title company will likely want a copy of this as well). If he had less than $61,000 in net probate assets and no other real estate, you do not even need to go through probate - rather, you could use a small estate affidavit. If the property was owned as co-tenants or tenants-in-common and/or he had more than $61,000 in non-probate assets, his estate will need to be probated to transfer the property. Feel free to call me for a free initial consultation if you have other questions. I hope this helps.  ... Read More

If you are referring to a foreclosure auction, you can search the internet for the name of the county where the property is located and the term "Public Trustee."  Many Colorado counties allow you to view the foreclosure information online, including information on the sale date and bidding process. Please note this response is general in nature and is not legal advice. No attorney client relationship is formed by it.  Furthermore, the response does not represent the opinions or views of LexisNexis or its affiliated companies. I hope this information is helpful. Kind regards,   Cyrus Rajabi... Read More

Two potential approaches are: 1.  a sale and leaseback (more common in the commercial realm, for tax reasons, but feasible even outside the commercial context); or  2. sale of the property while reserving a life estate. Life estates are valid in Colorado and, in recent years, have gained a new popularity and acceptance as an estate planning vehicle for the elderly. Life estates may be created by deed or by will, with either a direct grant or devise, or by reservation. Any language that expresses the intent of the grantor/testator will suffice. Please note the price received for the property will more than likely be reduced to reflect that the new owner will not have full rights to the property until the life estate holder passes. With regard to your other question, in terms of protection from default during the rental period (in the event of a sale and leaseback), the best protection is to sufficiently evaluate the credit of the buyer and, if necessary, obtain guarantees or other assurances to reduce the likelihood of default. There are no inherent limitations in terms of shifting control of various aspects relating to the property; however, it's important to include provisions allowing for intervention or termination in the event the relevant matters are not handled as specified. Please note this response is general in nature and is not legal advice. No attorney client relationship is formed by it.  Furthermore, the response does not represent the opinions or views of LexisNexis or its affiliated companies. I hope this information is helpful. Kind regards,   Cyrus Rajabi    ... Read More