Colorado real property law governs the ownership of land rather than personal property. The associated rights and obligations of real property have their origins in the common law of Medieval England. They can therefore be difficult to interpret under a modern legal system.
Some aspects of Colorado real estate laws will specifically affect business owners. Environmental laws determine how you dispose of the waste that your business creates and zoning laws regulate the type of business you can run on your property.
Keep the following points in mind when you speak with a lawyer that practices real property law in Colorado:
1. Property is not a tangible object in the strict legal sense. Rather, it is a collection of rights that are protected by Colorado property laws. These rights include not only ownership but the right of use.
2. A person that possesses land is entitled to protect his ownership against anyone who is unable to demonstrate a superior claim.
3. A consensual transaction such as a sale or a gift is the most common way of obtaining an interest in property. However, ownership may change without the property owner’s consent, as in the case of bankruptcy or some other court judgment.
Obtain insurance from an agent familiar with Colorado property lawThe property laws in your state will affect the insurance that your particular business needs. Specific types of property insurance include protection from property damage, public liability and rent interruption.
Find a tax lawyer who is familiar with Colorado real estate lawTaxes generally are higher on business property than residential property and most businesses will require the services of a Colorado real estate lawyer. This will ensure you pay your taxes on time and receive any deductions that you are allowed.
Hire an attorney that practices property law in CO to handle real estate transactionsA business owner should have a real estate attorney's assistance in drawing up a contract when buying, selling or renting property. Your attorney can ensure that the contract protects your interests and is legally enforceable.
- Select a lawyer who specializes in Colorado real property law and is familiar with your particular industry. For example, if you operate an agricultural business, your real estate lawyer should know about the property laws that pertain to farming.