It is possible to request "S" corporation status for your LLC. In order to do so you are required to make a special election with the IRS to have the LLC taxed as an "S" corporation using IRS form 2553. This form must be filed within the first two months and fifteen days from the beginning of the tax year in which the election is to take effect. The LLC remains a limited liability company from a legal…

Your neighbor may obtain a prescriptive easement across a portion of your property if all elements of a "prescriptive easement" are established. First, the neighbor must not attempt to conceal the use of a portion of your property and such use must be apparent upon inspection. Second, the use must not be with your permission. Unlike an adverse possession claim, the use of your property does not need…

Colorado requires a developer to report the potential for expansive soil problems under certain circumstances. The statute requires a developer to provide the purchaser of a new residence with a “copy of a summary or report of the analysis and site recommendations” of the property at least 14 days before closing. In addition, for any site with potential expansive soil issues, the developer must provide…

Colorado construction claims generally are governed by a two year statute of limitations. This means a claim generally must be filed within two years after the claim for relief arises. A claim for relief arises when there is a “manifestation of a defect in the improvement [that] ultimately causes the injury” or is discoverable with the exercise of reasonable diligence. With some exceptions, the outside…

Mediation and arbitration proceedings are both alternatives to litigation. Though both procedures employ a neutral third party, mediation is normally a non-binding procedure while arbitration is a binding procedure. Mediators do not judge the case but help facilitate a discussion and eventual resolution of the dispute. Arbitrators generally act similar to a judge and make decisions about evidence and…