Our General Real Estate Practice covers real estate issues from A to Z. Matters ranging from property boundary disputes to complex real estate development deals may be the cause we are fighting for. The areas of real property rights and entitlements are also central to this practice area. This practice group is also active in lobbying and legislative efforts to assist our clients in shaping the laws that will impact and govern their business.
There are several different types of commercial leases. The main consistency among them is that they are entered into for a commercial purpose and in the course of business. Commercial leases range from fairly standard to very complex documents and cover issues such as leasing retail and office space to mineral and water leases. It is very important that lease language not only be properly drafted but also properly negotiated and understood as the terms of a lease have long lasting and sometimes unintended consequences. Similar to Residential Leases, commercial leases can have provisions for purchasing the property through an option or Purchase Contract. Any business that enters into a commercial lease is betting its company’s future on the location and that services that are to be provided under the lease contract. The investment in time and resources to help you fully understand your lease and properly negotiate it to stack the deck in your favor is what we do.
Residential leases may sometimes be for a commercial purpose or for a personal residence. Although many of the terms and elements are the same as a Commercial Lease, there are many unique aspects and provisions. As residential leases deal with housing, they often include terms and provisions dealing with options to purchase or Purchase Contracts, extension periods and rights of the landlord to evict if the terms of the contract are not adhered to.
The title system depends heavily upon the accurate and timely presentation of documents. Colorado is known as a “race notice” state meaning the first to the county clerk to file a notice of ownership has a senior right to those that file thereafter. While this is generally true there are circumstances that are exceptions to this rule and from time to time errors are made in the order of recordation. Title insurance provides a protection mechanism for the buyer and seller against many of these issues but when an error is discovered it must be addressed. Title curative is an area of our practice that cleans up and restores the proper order of the title records. Many times an unpaid Mechanic Lien or Home Owner Association lien will be the cause of title curative work as they both enjoy a superior lien right to other lien types. We negotiate and litigate claims with various parties to accomplish this objective as quickly and judiciously as possible.
Construction issues vary widely. Litigation and negotiation surrounding Development, building, zoning, Easements and Entitlements are everyday occurrences. Issues surrounding construction timelines, payment, quality, warranties, and performance also are routinely handled in this practice area. The main element of the construction area of our practice is the relationship between trade professionals that are engaged in the construction industry.
Mechanic's liens are a very special lien right enjoyed by those that provide materials or services that benefit the property to which the services or materials were applied. Because once the services or materials are applied they cannot be taken back without additional efforts, these activities are protected against refusal to pay by a lien of superior rights which many times are the subject of Title Curative work.
Home Owner Associations (HOAs) are typically a not for profit corporation formed for the purpose of establishing and policing a common set of rules and regulations intended to maintain a specific look and feel of the community. They are granted special privileges and powers under the Colorado Revised Statues, their covenants and bylaws. Our Real Estate Group handles Home Owner Association issues on a regular basis ranging from disputes to the formation of HOAs and representing their members and the association’s interests.
We routinely advocate for and participate in the negotiation of deals on behalf of our clients. The experience and skill in litigating matters and having negotiated thousands of deals allows us to transfer that experience to our clients, enhancing the outcome of the transaction or negotiation. Our attorneys are there to guide you through the initial exploration stages and developing a letter of intent or LOI, assist in the drafting and negotiation of the Purchase Contract or other agreements and then support the execution of due diligence and enforcement of the deal terms.
A planned urban development, or PUD as it is often called, is a detailed map and plan of how a specific parcel of real property will be developed over time. Sometimes the time period is a matter of months or in other instances a matter of decades. The PUD is a collaborative effort between the developer and the county offices which govern the infrastructure and Development of land within its jurisdiction.
Financing real estate is an old and common practice but the avenues, options and pending impact of these transactions is becoming increasingly difficult and complex. The proper negotiation and drafting of financing arrangements is critical to the success of the real estate venture. Whether the purchase of a house or a commercial complex, rarely is one able to do it without outside financial backing. In commercial transactions it may in fact be less risky and more profitable to finance a project, especially if bonds are an option. Tax incentives, tax deferrals and credits are often a central portion of a properly structured commercial financing project.
The development area of our practice is vast. Real property development consists of improving and developing real property under a specified plan. The result of this improved land is intended to be a better use are an increased value. Development can be performed by one individual or company or a large contingent of partnerships and vendor/vendee relationships. Some development projects are enormous like the Highlands Ranch PUD covering tens of thousands of homes over several decades to simple redevelopment of a half acre lot that once was vacant and now is intended to be a city park. The development of a property touches many facets of real estate law from Purchase Contracts, Entitlements, Easements and Mineral Rights to Financing, Deal Negotiations, Construction Issues and potentially Home Owner Associations.
Entitlements are those necessary elements needed in a Development to improve the land like zoning approval, design approval and a plan to install the needed infrastructure for the project.
Land contracts are sometimes referred to as contracts for deed. These are a type of Purchase Contract where the seller will hold the title to the property until certain requirements are met, usually the payment of the agreed price.
Mortgages or deeds of trust are instruments that create a security interest in the property which they relate to. In other words, the mortgage or deed of trust is the document that links the promise to pay with the collateral or property that will be forfeited if the payments are not made pursuant to the contract. Mortgages are less common in Colorado than deeds of trust although both can be found. Typically a deed of trust has a grant of a power of sale to the public trustee of the county where the property lies which allows for a non-judicial administration of a foreclosure in the event that there is a default on the underlying promise to pay.
Purchase contracts represent a purchase or sale transaction and vary greatly in their content an intended purpose. While realtors enjoy a limited license to complete real estate forms they are not able to craft language that advocates for you or puts your unique needs and desires in the contract. A properly negotiated real estate transaction starts with discussions and negotiations which produce a letter of intent or LOI as it is often referred to. The LOI then is used by the legal team to make sure that the purchase contract contains all of the terms and provisions necessary for the parties to be protected as they had negotiated in the LOI. Sometimes the LOI is very simple and includes only the basic terms of the deal where in other circumstances it may outline complex steps and procedures that must be taken prior to the next step of the Development or Entitlement process may take place. Purchase contracts are really the central document that unites all of the parts of a real estate transaction in one place allowing the parties to have a road map for their actions and a clear method of resolution if the actions are not taken as agreed by either party.
Special districts are set up for a specified purpose in order to gain a particular tax or other governmental treatment.
In addition to simple property rights there are often very complex underlying mineral or water rights that run with the real property. Mineral and water rights may be leased or sold, bargained for or leveraged by the holder. These rights pertain to certain elements that may or may not exist upon the surface or below any real property. As these rights are not for the standard real property or dirt as it is often referred to they are not governed by the same registry or recording laws and have their own very unique sets of rules that govern them.
Easements are a grant of right to pass over or through a parcel of real property. We most commonly see easement rights for our roads and sewers or for utilities that travel across a piece of real property to a building or our homes. These easements may however be contested or no longer valid requiring Title Curative to resolve the issue. They also may be a very crucial part of a Development process, Special District or PUD plan.