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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.