Legal Question in Real Estate Law in Colorado
commercial real estate transaction
selling commercial property in co. questions are arising as to my current residence. I own a residence in colorado, pay taxes in co., have co license, but have been renting a property in michigan for 5 months, have not paid any taxes. where is my legal residence and why is this such an issue?
Asked on 4/25/07, 11:01 am
1 Answer from Attorneys
Robert Murillo
Pivotal Legal Ltd.
Re: commercial real estate transaction
Talk to an attorney to be sure about your legal residence. It is an issue because non-residents of Colorado are subject to a withholding tax for real property sales (if not under an exemption) and this information is part of the DR 1083 filing. Your title company, your broker or your attorney should have explained the filing and issues.
Answered on 4/25/07, 11:18 am