What is subrogation? Subrogation is the insurance concept where the insurance company, who has paid an insurance claim to an insured party, can then seek reimbursement from the negligent party for the claim amount. The insurer can recoup the money paid to the party by “stepping into their shoes...
When you buy a condominium, a row home, a townhome, or even a single-family home in a development, you will likely come across a document that begins with the words “Declaration of,” followed by some combination of the words “grants,” “easements,” “covenants,” “restrictions,” and/or “party wall a...
What is a mechanics' lien? A mechanics' lien is a method of ensuring that parties who supply materials, labor, or services to a construction project are paid for their work. When a construction professional records a mechanics lien, the professional is granted a security interest in the property...
My tenant's circumstances have changed. What do I need to consider before modifying the lease? With the world-wide pandemic changing the way we work and live, many are working from home and are unsure when they will return to the office, if ever. Microsoft recently announced that it will not req...
Everyone wants to run an efficient construction business. Having documents that clearly set expectations and promote efficiency is a great way to ensure a smooth and successful project. While all documents are important and should be considered thoroughly, there are 4 critical documents that shou...
While terminating for default may seem like a simple decision, it is a decision that should be made with great caution as it can have serious impacts on the current project and future projects. Construction projects are fluid, and each has its own surprises and challenges. It is in the best inter...
Are they enforceable? Typical "attorney" response: Well, it depends. There is no special bar voiding non-compete agreements for independent contractors. In Colorado, independent contractors and employees are treated the same when enforcing non-compete agreements. In Colorado, non-compete agreeme...
PART 4: Default Remedies and How They Can Fail to Capture Original Intent. Generally, when cotenants have a common interest in property, “either party may have the property divided by an equitable proceeding pursuant to the partition statutes, §38-28-101, et seq.” Young Properties v. Woflick, 87...
PART 3: Termination and Conversion of Tenancies. In determining whether a joint tenancy remains and devises to the benefit of another joint tenant or whether there was a termination that created a tenancy in common, the earlier cases tended to turn the determination of whether or not the acts of...
Lien releases are a safe way to ensure that liens are terminated, and payment is collected. However, lien releases that are conditional or unconditional function differently and have different risks. Lien releases in Colorado are unregulated, so a party signing a lien release should be aware of t...
PART 2: A History Of Tenancies Under the feudal system of England, the holdings of the courts long favored joint tenancies rather than tenancies in common. The later English decisions have leaned the other way. In this country, some of the courts' earliest decisions decided that a joint tenancy i...
PART 1: Context Of Co-tenancies In A Modern Society. People are getting creative with their financing options. With this comes greater opportunities for disputes and unique legal conundrums. As we have all been witness to the Colorado real estate market over the past few years, you can imagine t...
Colorado, especially the resort towns, is really having a hard time establishing consistent affordable housing around the state. Most municipalities are beginning to introduce or extend deed restrictions, which require certain affordable standards be set. The funny part is, property owners are mo...
Buying a house can be a very exciting time in a person's life. Chances are, if you're reading this, you have entered into a Contract to Buy or Sell property and have experienced closing on that property or have seen a sale fall through. The ladder option can happen for a multitude of reasons: fai...
It depends. In many real estate and construction transactions, you see a request for either a purchaser, owner, landlord or general contractor to be named as an additional insured or certificate holder to verify coverage of remote loss. However, the terminology and application have be skewed in t...
These are uncertain times, that's the only thing we are sure of right now. While courts and clerks are closing, toilet paper is disappearing and the stock market is plummeting, what is happening with the real estate market? Well in some aspects, business as usual. In others, it is slow motion cha...
A lot has happened in the last few weeks. One being a global slow-down of all things as a result of the COVID-19 pandemic. Such slow-down will be felt across many industries. The question remains is your current Force Majeure clause encompassing of the current pandemic? Force Majeure literally tr...
We all know that the legislature is in session and that amendments and additions are made, but who has time to keep up with it? Most importantly, who has time to read them all and analyze how they affect the real people around Colorado? Well, for starters, Jeremy Schupbach does. He is the Colorad...
As a subcontractor, the negotiation/bid process is a very exciting, yet stressful time. The prospect of securing a new project makes it easy to consider foregoing necessary due diligence of the proposed agreement. It is important to consider what you are agreeing to and how the terms could curtai...
We all want to pay less taxes. All of us. It is for this reason that the 1031 Exchange can be so beneficial. IRC § 1031 allows investors to sell properties and reinvest the profits into another piece of property and defer the capital gains taxes (click here for more on that topic). Specifically...
The structure of the business or business type is one of the most important decisions to be made in starting a new venture. There are varying factors that all have legal and financial implications. Those factors can include: Legal restrictions Liabilities assumed by members Type of business oper...
If you have spent time any amount of time working in the construction industry as a subcontractor, vendor or material supplier you have likely come into contact with general contractor who provides their standard contract to perform work for the company. Or if you are a general contractor you lik...
A closing statement is required in any property purchase and is a form that provides a detailed financial overview of projected payments, credits, debits and required cash or wire instructions. These numbers are ever-moving in today's contentious real estate market, so sometimes these Disclosures...
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