Do you have an idea for a product or service? Have you shared or are you planning on sharing your idea with others? How can you protect yourself and your unique idea from people that may try and copy you? Has someone asked you to sign a Nondisclosure Agreement? GLO consults with business owners to ensure that they have the least amount of liability risk while maximizing investment returns. What is a non-disclosure agreement? A non-disclosure agreement (NDA) is an agreement to not disclose specified information gathered in a certain context. Whether the NDA is a provision in a greater contract ..read more

What is the UCC? The Uniform Commercial Code, often referred to as the “UCC” is a set of laws that regulates certain business activities, including sales of goods and secured transactions. The UCC is a large collection of rules that seeks to facilitate fair business transactions. The eleven articles of the UCC cover transactions from sales to leases to investment securities, and everything in between. The drafters of the code hoped to provide a broad body of law for states to adopt. To this end, many states, including Colorado, have adopted the UCC as good law. In Colorado, the UCC can be fou ..read more

Are you interested in selling or refinancing your commercial property in Colorado? If your mortgage or loan doesn’t allow prepayment, defeasance may be your only option to complete a deal. Often, commercial mortgages do not allow prepayment. However, a defeasance may be available instead. Defeasance is a process of substituting collateral, usually Treasury bonds or Agency securities, for the property that secures the loan through a Deed of Trust.   What is a defeasance?   Defeasance essentially replaces the property secured by a real estate mortgage or loan with certain assets other ..read more

Colorado’s unique public trustee foreclosure system makes it a great place for real estate investors because foreclosure is relatively quick and easy. But not every foreclosure is well-suited for administration by the public trustee, such as the case when the deed of trust contains a defect or omission that prevents the public trustee from handling the foreclosure sale. This blog analyzes the judicial foreclosure system in Colorado and discusses your rights as a lender, borrower, or junior lienor during foreclosure. For information on foreclosures in Colorado generally and the more common pro ..read more

Did you sign the wrong real-estate contract? No need to worry! While this can sometimes cause complications, particularly the longer it goes undiscovered, this is a surprisingly common issue. It is always a good idea to double check the contract and read the fine print, but that isn’t always possible in the real world, especially when time is of the essence. The real estate industry is fast-paced and requires a lot of documentation, so it is a regular occurrence that documents get mixed up and sent to the wrong people. Furthermore, real estate contracts almost always look nearly identical, mak ..read more

Running a business is extremely difficult. Adding legal jargon and understanding who can do what for a business complicates things even more. This blog is meant to help business owners and holders of trusts understand the importance of a Statement of Authority without getting too lost in the weeds.   What is a Statement of Authority in Colorado?   A Statement of Authority vests an individual with unambiguous authority to convey real property on behalf of an entity, or to convey real or personal property on behalf of a trust. Under Colorado law, an entity includes any corporation, gov ..read more

Are you a buyer or seller in Colorado who has executed a Contract to Buy or Sell Real Estate? It’s an exciting time for either party and the sale may feel like a done deal at signing, but unfortunately issues can arise between signing the Contract and closing on the property. This Blog discusses Section 18.1 of the Contract, which outlines specific steps that must be taken by both buyer and seller in the event of damage to the property and a consequent insurance claim.   What happens if there has been damage to the property before closing?   Damage can occur to a property in a number ..read more

Letting a stranger onto your property is anxiety-provoking as it is, but especially so when that stranger doesn’t have a company name attached to them in case something goes wrong. When you have a specialized project in mind for your property, hiring an independent contractor might be the smartest, or only, option you have to get things done properly. But with no real “employer” to review, how do you know who to hire and how to verify their credibility? Let this blog be your guide into the world of independent contracting, and how to make sure you’re hiring the right contractor for your projec ..read more

Buying a business can be a huge undertaking for both the buyer and the seller for different reasons. Purchasing a business is much more involved than say, purchasing a home. It is incredibly important to make sure all the details are accurate and that the transfer complies with the governing business documents and even contracts with third parties. Beyond just the money involved, the business assets (including real estate), existing contracts and leases, insurance, and other factors must be taken into consideration before a sale should take place. What is being purchased? It is important to u ..read more

For both landlords and prospective tenants, rental applications may seem like a self-explanatory step of the rental process. However, there are several things that both parties should know about the application process. As a tenant, you should know your rights and what information you are required to share with your prospective landlord. On the other hand, as a landlord, you should know what you are allowed to charge and what you are allowed to consider when processing a rental application.   Federal anti-discrimination laws, specifically the Fair Housing Act, prevent landlords from rejec ..read more