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, […]
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, […]
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 […]
Colorado recognizes prenuptial and post-nuptial agreements. A spouse can waive virtually all rights except child support. The question is, should they? Prenuptial Agreement Contents Most prenuptial agreements start with both spouses waiving all rights to the other spouse’s property whether that property is acquired before or during the marriage. The spouses also waive any right […]
Mineral interests can become fragmented, difficult to trace, and expensive to transfer. Holding mineral interests in an LLC can solve all three problems. The phrase “mineral interest” is used broadly to describe rights to gas, oil, and other minerals at or below the surface of land. Mineral interests are further divided into royalty interests, working […]
Colorado Eviscerates Non-Competition & Trade Secret Agreements Non-competition agreements have arguably been overused to the benefit of employers. HB22-1317 drastically changed Colorado’s law governing these agreements. The changes went into effect on August 9, 2022 and apply to agreements entered into or renewed after August 9, 2022. These changes affect Colorado employers and any business […]
Coloradoans are getting Margarita Fever. A trip to the Mexican sun coast. Warmth, salt air and a whiff of humidity. A yearning for a piece of Mexican paradise warms the body while a little tequila whispers soulfully that it is the right thing to do. Why A Fideicomiso? Foreigners cannot directly own Mexican real property […]