In the deal, she represented both parties. A year after it sold, she and the previous owner are now sueing to get some of the property back. I have some costly representation and they say I have to wait to file person injury against the real es...
The real estate broker's state mandated Errors and Omissions ("E&O") coverage may provide you with some coverage if you can establish that the real estate broker's actions or inactions were negligent or otherwise below the standard of conduct expected of brokers.
Please be certain to promptly and diligently follow up on your legal matter, as there may be deadlines or other time periods, etc. which could harm your interests or legal rights simply through the passage of time – some of which may have already passed or the passage of which may be imminent.
I am not in a position to advise you on these matters at this time, including any relevant statutes of limitations, but encourage you to move quickly to retain counsel of your choosing in order to protect your interests.
Please also be aware that E&O policies are "claims made" policies which means that you would be afforded no coverage if you do not make a claim before the policy lapses so you could lose coverage if the broker fails to renew coverage or loses coverage for other reasons prior to your filing of a claim.See question
On July 28th a hail storm caused a lot of damage to our area. A couple of days later all the residents received an email advising us of an upcoming loss special assessment and that we should call our insurance company to make sure we are covered o...
More than likely, yes. If the intention is to obtain coverage in order to cover a loss which occurred prior to the coverage effective date or to contrive a factual circumstance to deceptively meet coverage terms, this would appear to constitute insurance fraud.
If the HOA and owners are complicit in this conduct, this would appear to be a criminal conspiracy to commit fraud.
Colorado law requires the following statement to appear on claims related information acknowledgements.
"It is unlawful to knowingly provide false, incomplete, or misleading facts or information to an insurance company for the purpose of defrauding or attempting to defraud the company. Penalties may include imprisonment, fines, denial of insurance and civil damages. Any insurance company or agent of an insurance company who knowingly provides false, incomplete, or misleading facts or information to a policyholder or claimant for the purpose of defrauding or attempting to defraud the policyholder or claimant with regard to a settlement or award payable from insurance proceeds shall be reported to the Colorado division of insurance within the department of regulatory agencies."
Insurance is designed to cover uncertain risks. In this case, it is already established that the hail damage has occurred and, secondly, it would appear to be a virtual certainty that the special assessment will occur (in fact, it appears that the special assessment is planned and the HOA board has unethically provided a “heads up” to apparently facilitate and/or encourage this improper conduct). It is virtually certain that your carrier would deny such a claim if all of the facts are properly disclosed, including disclosure of the events which led to the procurement of the endorsement or additional coverage. If the HOA simply is encouraging owners to get this coverage for potential future losses (unrelated to the prior loss or currently contemplated special assessment), this is permissible and advisable in many instances.
I hope the above information is helpful. If you believe a crime has occurred, you should contact local law enforcement and/or the Colorado Division of Insurance.
My father passed away and my mother would like to add me to the deed. Joint tenacity. I am only child. Adams County Colorado
Mr. Mitchem provides a good road map and suggestions to achieve your stated objectives. If your goal is to provide for some estate planning and to allow the property to pass to you outside of probate in the event of your mother's passing, you may want to also consider a beneficiary deed.
Also, you will want to consider title insurance impacts, as well. A beneficiary deed would keep title insurance in place, whereas the quitclaim deed approach would likely invalidate any existing title insurance coverage.
If you, nevertheless, decide to transfer the property to you and your mother as joint tenants, you may want to consider using a bargain and sale deed since this type of deed can make it easier to remedy title defects that are identified after the transfer.
In any event, you should discuss your objectives and means with a real estate attorney to ensure that you meet your intended underlying goals without exposing yourself to unnecessary risks or eliminating insurance coverages.
Hope this information is helpful.See question
Just curious since I am planning to sign a Quit Claims Deed
The person to whom you sign over the property is referred to as the grantee.
After the grantee dies, the property would be held by the grantee's estate (unless the grantee took some other estate planning action to allow for the property to pass outside of probate). Examples of situations where the property may pass outside of probate would include adding a joint tenant prior to the grantee's death (in which case title would vest in the other joint tenant) or the recording of a beneficiary deed prior to the grantee's death (in which case the property would pass automatically to the designated beneficiary).
You should consult with an attorney as it may be more appropriate to use a different type of deed in your situation, whether a bargain and sale deed or a warranty deed of some kind.
The type of deed can be particularly important as the quitclaim deed can eliminate title insurance that would otherwise provide potential coverage and a bargain and sale deed can make it easier to remedy certain title issues that may be discovered after the fact.
I hope the above information is helpful.See question
A person that I used to know is blackmailing me by threatening to post nude videos and pictures online and send them to everyone I know if I don't perform sexual act for him on camera or send more photos. Is there anything that anyone can do? I'm ...
In short, yes. This is a serious crime.
You can see a similar case at this link where a predator was sentenced to 35 years.
Local, state and federal authorities may all be able to help depending on the nature, extent, location and scope of the crimes and activities involved.
I am sorry you are being subjected to this horrible situation. I encourage you to take prompt action, as these types of predators often engage in similar practices with multiple victims at the same time. Your prompt action could save you further harm and could protect other victims, as well.See question
I bought a house a year ago water started coming up out of the floor within a month of purchase, I was told that there is a stream under my house. Can I sue the seller for not disclosing, this problem. I called the inspection man he suggested digg...
Mr. Nozzolillo makes good points.
You are also well advised to pull a C.L.U.E. report and check with the city / county on matters addressed during permitting and construction including any geotechnical reports completed in connection with initial construction or repairs.
C.L.U.E. stands for Comprehensive Loss Underwriting Exchange and is a claims-information report generated by LexisNexis®, a consumer-reporting agency. The report generally contains up to seven years property claims history which would potentially give you evidence that the seller or broker failed to adequately disclose the history or existing conditions relating to the property when compared to the seller's property disclosure or other disclosures made in connection with the sale of the home..
C.L.U.E. offers various disclosure reports that provide an insurance loss history for a given address which could be very helpful.
In any event, time is of the essence to evaluate your claims and have the actual water matter addressed, particularly given that the water, regardless of the source, is compromising your foundation and structural integrity. You should have a structural engineer or other qualified expert evaluate the home to ensure you are safe. A geotechnical or drainage engineer may also be able to help with identifying the source of the water as well as means to divert or otherwise address its impact on your home.
Please be certain to promptly and diligently follow up on your legal matter, as there may be deadlines or other time periods, etc. which could harm your interests or legal rights simply through the passage of time – some of which may have already passed or the passage of which may be imminent. This would impact and potentially bar any potential claims against the seller, the brokers, the builder/developer, and other experts or construction parties involved.
I am not in a position to advise you on these matters at this time, including any relevant statutes of limitations or repose, but encourage you to move quickly to retain counsel of your choosing in order to protect your interests. Please note the information above is of a general nature and is not legal advice.
Hope this is helpful.
I have an exclusive buyers agency with a client until Sept 9 2016. We were under contract on a home due to close April 11th 2016, 2 days before closing my client contacted me and said that they wanted to terminate the contract due to insurance iss...
You may have claims against the buyer and the broker depending on the terms of the agreement and definition of "Property" under the buyer agency contract.
If the purchased property substantially meets the requirements for the defined "Property" under the contract, it would appear there are potential breach of contract claims against the buyer.
Also, given the fact that the property closed the same day as the other closing, you may have an argument that the covenant of good faith and fair dealing was breached because it is unlikely that the buyer contracted for and closed on the other property on the same day – in other words, the buyer appears to have been double dealing, potentially with the complicity of the other broker.
You may also have claims for tortious interference with contractual relations against the other broker, though it’s possible the buyer wasn’t entirely candid with the other broker about your agency contract. However, the broker would have known about the other contract though, since the broker apparently assisted the seller with getting out of the other deal. Any ethical broker would inquire as to the nature of the relationship between the buyer and the broker in the pending deal, so it certainly doesn’t look good for the buyer or the other broker. Furthermore, if the buyer never had the ability or intention to buy both properties and used the insurance objection as a disingenuous excuse to get out of the contract, there may also be other claims involved (including claims by other parties against the buyer, as well).
You should investigate the matter further and engage counsel or contact the Division of Real Estate if you suspect improper conduct or violations of the rules by the broker.
Hope this is helpful.See question
I received a call from a lawyer today wanting to talk about a personal business matter. I know this is code for a debt collection. Anyways he wanted me to verify all my personal info without giving me any idea what this was about. Sounds like a sc...
You can search for Colorado attorneys at the following link: http://www.coloradosupremecourt.com/Search/AttSearch.asp
You can then call the attorney back at the number listed in the search result to ensure you are speaking to the actual attorney and not someone impersonating the attorney.
Hope this is helpful.See question
She cashed it at King Soopers
I am sorry you were victimized by your roommate.
It appears that your roommate stole the money orders, which, if true, would be a criminal matter.
I see that the notes for you question indicate a "notice to vacate." If your roommate stole the money orders that would have been allocated toward your rent or related expenses and your landlord is seeking to evict you as a result of the failure to make those payments, it may help to file the police report and provide a copy of the report to your landlord together with a request for an extension of time to pay any past due rent or other amounts.
If your roommate impersonated you when cashing the money order, this may be an additional crime.
To the extent that the money orders were designated for other companies, you may wish to provide a copy of the police report to them and request an extension of time to make the payments that we not made as a result of the theft.
With regard to going after your roommate, it may be easiest to have the criminal courts go through their process and see if they can order restitution (i.e., they will seek to have your roommate pay back the money that was stolen).
Please feel free to ask any follow up questions you may have.
Hope this information is helpful.
Thank you.See question