Most of the new guidelines set forth in the new Condominium Project Approval and Processing Guide became effective June 30, 2011, including provisions regarding new insurance requirements for associations and management companies. One problematic provision in the new guidelines is the requirement in Section 2.1.9 which states that any homeowners association engaging theGo to Resource
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The House Financial Services Committee’s Subcommittee on Insurance, Housing and Community Opportunity hosted a hearing on September 8 examining the role of FHA in the mortgage markets. Acting FHA Commissioner Carol Galante testified to FHA’s role in the post crash housing market and noted progress made by FHA in ‘improving’ the condominium insuranceGo to Resource
Property owners commonly form limited liability companies (“LLCs”) for the purpose of developing, holding, or leasing investment or commercial properties. LLCs are used as the entity of choice due to their flexibility, ease of formation, and tax treatment. The thought behind holding the property in the name of the LLC, rather than inGo to Resource
An IRS 1031 exchange is a provision in the Internal Revenue Code that allows the owner of investment real estate to sell that property and to use the proceeds of the sale to purchase another investment property without paying capital gains taxes. There are specific requirements that must be followed for an investmentGo to Resource
A renewed oil rush has begun in Colorado. Oil companies are competing to obtain leases from mineral owners in order to exploit a mineral formation known as the “Niobrara” which stretches across large portions of Colorado. The rush began with the drilling of the spectacular “Jake” well in Weld County in 2009 andGo to Resource