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Hiring a Lawyer when Buying Minnesota Real Estate

Purchasing a home is the largest and most expensive purchase most people in Minnesota will ever make in their lifetime.  Minnesota has amazing properties all over the state, including homes in the cities of Duluth, Minneapolis, Virginia, Hibbing, Ely, Grand Rapids, and International Falls.  It is important to protect your rights when making such a large purchase.  While hiring a real estate attorney may seem like an expensive prospect, it is important to protect your rights. You do not want your dream home to become a nightmare. Before you complete your purchase or sale of property get your real estate

2023-09-12T12:37:59-05:00Real Estate Law|

Changes In Minnesota Property Tax Law

In 2011, Minnesota’s Legislature decided to repeal the Homestead Market Value Credit and replaced it with a program known as the Homestead Market Value Exclusion.  Beginning in 2012 the homestead credit will be eliminated.  Under this new law, property taxes will increase for some homeowners.  There will be no state paid credit, but rather the entire property tax levy will be paid by local taxpayers. Minnesota is no longer providing a homestead credit and instead the entire levy is being paid by local property taxpayers.  According to the State of Minnesota, this change will save the state $261 million in monies

Rental Property Ordinances In Duluth

In the State of Minnesota, known for its lakes, Duluth is a city surrounded by boats.  This half of the Twin Ports is an excellent combination of metropolis and water views.  Real estate in Duluth is popular with Minnesotans who work in the city, those who enjoy water views, and a bustling commercial real estate market as well.  Additionally, the neighborhoods around the University of Minnesota in Duluth are popular with students during the school year.  These beautiful neighborhoods around the University of Minnesota have made some changes in the past few years converting from single family homes. Duluth also

Purchasing Commercial Property In Duluth

Duluth is not just a city on the water but a bustling metropolis as well. The port brings commerce and tourists to the city every year. In a busy city like Duluth, commercial real estate is always in demand, even in a down market. Commercial real estate in this economy can be quite a good deal. However, there are a lot of hoops to jump through with real estate, particularly if you are considering taking over a commercial lease, giving up a commercial lease or making significant changes to a building. Commercial properties can include office buildings, hotels, malls, retail,

Joint Tenancy vs. Tenancy in Common

When purchasing a piece of real estate Minnesota home buyers must consider how they want to hold the deed to the property.  This is of particular importance when more than one person is going to have an ownership interest in a piece of property.  Both joint tenancy and tenancy in common allows more than one person to have joint ownership in real property.  However, if the home buyers want to purchase the home as joint tenants, they must specifically state this in writing in order for it to be valid in the state of Minnesota. Joint Tenancy Under joint tenancy,

2021-08-04T15:33:59-05:00Real Estate Law|

Homeowner and Community Associations/Minnesota Law

Many Minnesotans live in communities that are ruled by a homeowners association, community association, or other type of community organization that oversees the rules and regulations put in place by the homeowners.  The purpose of these associations is to keep property values high, help combine expenses in shared communities and provide services for the entire community.  Associations can be a great way for homeowners to be involved in their communities and a chance to have a say in how the community should live. Homeowners and community associations are typically set up as non-profit corporations.  These communities are run by a

2021-08-10T12:11:21-05:00Real Estate Law|

Foreclosure – Short Sale or Walking Away

“Strategic default” is a topic a lot of real estate experts are talking about these days.  Some Minnesota property owners are so underwater with their mortgage that they are walking away from their obligations and choosing instead to default and give the home back to the bank.  With falling property values and difficult economic times, walking away might be a homeowner’s best option, though one not to be entered into lightly. Many homeowners are underwater on their mortgages.  Most of these homeowners did not take out a bad mortgage nor did they buy a home beyond their means.  However, with

2022-01-26T14:49:08-06:00Real Estate Law|

Benefits of Buying Foreclosures

Real estate markets throughout the United States are reporting a higher than average amount of homes for sale on the market.  Many of these homes in Minnesota and elsewhere are foreclosures.  A rough economy has made it difficult for some to stay in their homes and many are waiting for banks to throw them out or turning to short sale procedures to try to move on.  These types of sales can be a good deal for a savvy buyer, but they can also have many pitfalls.  A real estate attorney can help a buyer navigate this process with ease. The

2022-01-26T14:54:27-06:00Real Estate Law|
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