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Timothy Canty

Timothy Canty

  • Bankruptcy, Probate, Real Estate Law...
  • Colorado
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Licensed in all Colorado and Federal courts
Locations in Evergreen and Lakewood or I will meet you somewhere convenient. Always a free consultation.

(303) 670-2185

Practice Areas
  • Bankruptcy
  • Probate
  • Real Estate Law
  • Tax Law
  • Free Consultation
    I will quote you a flat fee whenever possible
Jurisdictions Admitted to Practice
Federal Circuit
US Tax Court
Lewis & Clark Law School
University of Colorado - Denver
B.A. (1976)
Websites & Blogs
Legal Answers
57 Questions Answered

Q. My Dad lived & died in NJ, I live in CO, which state do I need to get an attorney?
A: New Jersey. If he owned property in Colorado, you will need legal help here also.
Q. My landlord wants to show the house we live in to perspective tentative but we haven’t given him an actual written or
A: Your lease will usually address the times that a landlord may enter for specific purposes. If not, the law gives him a reasonable time and right to show the place to new tenants. A little respect on both sides will help make this go smoother. As a last resort, a judge can decide what is personable. .
Q. How does the Seller clear title so they can sell me their vacant land in Colorado?
A: B's son will have to open an ancillary probate in Colorado. Then he can record A's death certificate, a certified copy of the Colorado Letters and a Personal Representative deed to you. A's interest evaporates upon death and B's estate has the right to convey the estate property.
Q. Are paying taxes voluntary or law?
A: While our tax system is voluntary in the sense that you file a return and send in the money you owe, you will quickly find out how involuntary it is if you fail to do so. Many people have refused to file and have argued that they don't have to pay taxes. Most of them are in federal prison.
Q. I did an owner finance and hold the deed of trust as security, the buyer has abandoned the property and quit paying
A: It sounds like this was a straight sale and the property was deeded to the buyer. If title is in the buyer's name, you will have to foreclose to get it back. If you are able to contact the buyer, you may be able to get him to sign a quitclaim deed conveying the property back to you in exchange for agreeing not to sue him on the promissory note.
Q. If I file for bankruptcy in Colorado, will I lose my house?
A: Colorado law provides a homestead exemption of $75,000 (or $105,000 if you are over 60 or disabled). If the exemption is properly claimed in Schedule C of your bankruptcy petition, the trustee is bound by it. If you have more than that amount of equity, the trustee has the right to sell your house. In that case, the trustee would have to give you the exemption amount and then use the remainder to disburse to creditors. In close cases, you can usually get an agreement to pay the trustee a smaller amount and keep the house.
Q. I bought a condo with an ex girlfriend. We are both on the title and mortgage. She moved out after finding someone else
A: Since she is on the title, she would have to quitclaim her interest to you. The only other option is a court order.
Q. I am selling my home here in Colorado and moving to the bay area in Texas. I paid 160000 and owe $90000. I have lived
A: You must first calculate your cost basis which is the purchase price plus the cost of any improvements. Subtract that amount from the proceeds (minus costs of sale). The first $250,000.00 of profit is exempt from taxation. Anything over that is taxed at capital gains rates.
Q. On November 1, 2017, a Colorado cannabis company, Phoenix Life Sciences, declared bankruptcy and immediately reopened.
A: The United States Bankruptcy Court for the District of Colorado website shows no such case filed under that name. Generally when a company files bankruptcy (Chapter 7), it's assets are liquidated and the funds are used to pay creditors. Wages owed to employees have one of the highest priorities. Those who purchase the assets (even former owners) from the bankruptcy trustee are free to start a new business.
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8427 S. Custer Lane
Evergreen, CO 80439
Telephone: (303) 670-2185