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Residential Real Estate Transactions
It is common in the Aspen area for second homeowners to upgrade by buying a larger or better located...
Risks to Lenders of Equitable Subordination
The entire lending industry is based on the assumption that lenders making loans secured by collater...
False Claims Act Recoveries Continue to Soar
On December 4, 2012 the Department of Justice announced that during the 2012 fiscal year, it recover...

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It is common in the Aspen area for second homeowners to upgrade by buying a larger or better located house.  And most times they want to sell their existing home before they purchase the new home.  I have recently seen a couple of transactions in which a prospective buyer of an upgraded home in the Aspen area has decided to offer an exchange of his existing Aspen home plus cash to the seller of the upgraded home.  In both of these cases, the seller accepted the buyer’s offer. In one case, the seller was a developer who saw a new development opportunity in the exchange property.  In the other case, the seller was looking to downsize his existing Aspen home.

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The entire lending industry is based on the assumption that lenders making loans secured by collateral will have their interest in the collateral protected in virtually all  circumstances.  In the world of risks that can create a catastrophic failure of collateral value to a lender, perhaps the murkiest and most difficult to quantify is the risk of equitable subordination under the Bankruptcy Code.

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On December 4, 2012 the Department of Justice announced that during the 2012 fiscal year, it recovered $4.9 billion in settlements and judgments in civil cases involving alleged fraud against the government.  That amount constitutes a record recovery for a single year, eclipsing the previous record by more than $1.7 billion.  Of that amount, $3.3 billion came from qui tam or whistleblower actions.

During construction, walking the line between ensuring the Owner’s best interests are met  and allowing the construction professionals – the architects, engineers, general contractors, subcontractors, planning consultants – to do their job can be a tightrope act for any Owner’s Representative in a construction project.  After all, an experienced OR may be tasked with spearheading almost every aspect of the development process, from property acquisition and approvals through construction to marketing and sales. However, when it comes to actual design and construction, it is important that an OR know where his/her role ends and the roles and responsibility of those construction professionals begins.

Recent changes to Colorado law concerning challenges to the disallowance of conservation easement tax credits may have a significant impact on transferees of those credits.  For many years, Colorado has provided tax incentives to landowners who donate conservation easements on their Colorado properties.  An incentive system of state income tax credits was created to provide a source of income for landowners donating such easements.  These tax credits were designed to be used as a reduction of the landowner’s Colorado income tax, but they can also be sold and transferred to third parties.

The Interstate Land Sales Full Disclosure Act (ISLA) is a federal law which governs the sale or lease of subdivided property through the use of interstate commerce.  If a real estate developer or its agent markets or offers any property for sale using “interstate commerce” and does not meet an exemption to ISLA, then the developer must be in compliance with ISLA or risks serious consequences, such as the right of a buyer to revoke the contract, damages or other relief.

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The residential market in Aspen was active this summer and fall, and continues to be active as we head toward the winter holidays.  Prices have not regained their pre-slump levels, but they are definitely on the rebound — at least in the core area of Aspen and the immediately surrounding areas of Pitkin County.  In outlying areas (e.g., Old Snowmass and Lower Woody Creek) and down valley in the Basalt and Carbondale areas, prices and demand continue to be weak.

Posted by on in Litigation

In Colorado, as in every other state, various government entities have the power of eminent domain.  The State of Colorado, as well as incorporated towns and cities, have broad eminent domain powers to take property for any recognized public purpose, with only a few limitations.  In addition, special districts are considered government entities for many purposes, including the exercise of the power of eminent domain.  Under certain circumstances, private companies and even individuals can initiate condemnation proceedings to acquire property by condemnation, for example, pipeline easements or easements for ingress or egress to property.

If you have a construction defect claim, you cannot simply file a complaint against the construction professionals responsible.  In 2003, the Colorado legislature enacted the Colorado Construction Defect Action Reform Act, C.R.S. § 13-20-801 et seq. (“CDARA”), which was designed, in part, to reduce litigation and promote resolution of claims prior to suit by instituting a formal notice of claim process that must be completed before a complaint is filed.  Failure to follow the notice of claim process will result in a stay of the action.

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Arbitration is touted as faster and cheaper than the court system.  However, there are no guarantees that this is the case and, more often than not, arbitration is not faster and is exponentially more expensive.  There are several reasons for this:

Posted by on in Litigation

Today, more than ever before, businesses need to identify and manage the risk of False Claims Act liability.

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With so many professionals in the field of law these days, we at Waas Campbell Rivera Johnson & Velasquez LLP decided to start a blog that would give our clients a little insight into legal issues, as well as unofficial tips and advice for legal matters. Here you can get to know us a little better, and learn about interesting laws and case verdicts, industry current events, and everything in between.