The Problem With Beneficiary Deeds About 20 years ago, Colorado began recognizing transfer-on-death deeds for real estate. At the time, I was one of their biggest supporters. Today, I still use beneficiary deeds—but much more cautiously. Here’s why. A beneficiary deed is simply a transfer-on-death deed for real estate. The deed must be properly recorded […]
Contracts: Indemnity and Illusory Insurance Provisions This is something I see constantly in contracts that cross my desk: insurance requirements that look protective on paper, but are effectively illusory because of one-sided indemnity and subrogation clauses. Indemnity is a contractual obligation where one party agrees to cover another party’s losses or damages. In plain terms, […]
Is it just me? Have you noticed an increase in junk email? Beyond junk mail, the ads in my feeds are eerily aligned with my recent searches, TV shows, and even verbal conversations. While AI holds enormous promise for our future, our personal privacy is increasingly at risk. It’s Not Just AI It’s not just […]
Real Estate – When a Joint Tenant Dies Most checklists about what to do when someone dies focus on general estate matters. Very few, however, address the specific steps required when a joint tenant in Colorado real estate passes away. Joint Tenancy vs. Tenancy in Common In Colorado, real estate co-ownership is usually structured as […]
Beware: Fraudulent Businesses May Be Using Your Address A client recently contacted me after receiving unexpected business mail at his home. When we checked the Colorado Secretary of State’s website, we discovered that a business had registered using his address—without his knowledge or consent. Unfortunately, this isn’t an isolated incident. According to the Colorado Bureau […]
Are you sure you truly own your home? In Colorado, there’s a simple way to find out—by ordering an Ownership & Encumbrance (O&E) report. An O&E report, available from a title insurance company, provides a snapshot of your property’s legal status. It includes the most recent deed in the chain of title, any recorded liens, […]
Avoiding probate is the most popular reason to have a trust second only to privacy concerns. The most common asset held in trust is a home. Buying and keeping that home in your trust can be a challenge. Here are some tips. Buy in the Trust’s Name When you buy your home, make sure the […]
NGOs have been greatly abused by a relatively few. Sad because NGOs improve the lives of millions while the abusers grab the headlines. The solution, unfortunately, is more efficient oversight of NGOs. Until then, do your homework and ask the right questions. What is an NGO? NGO stands for non-governmental organization. One type of NGO […]
Rumor is, some Los Angeles fire victims are having difficulty with their insurance when the home is held in trust. While I find this hard to believe, naming the trust as an insured or additional insured usually avoids the issue. Why Put Your Home In A Trust A personal residence (a “home”) is often held […]
Should you hold your residential real estate in a trust or an LLC? Trusts may be emerging as the better option. Here is why. Background Regarding LLCs and Colorado Real Estate Over the last 20 years, LLCs became the preferred way to hold Colorado rental real estate because the LLC provided privacy and limited liability […]