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Strict Compliance with Mortgage Recording Requirements Is Required A foreclosure by advertisement is void if the Assignment Recording Statute, Minnesota Statute § 580.02, is not strictly complied with. In 2013 the Minnesota Supreme Court held that a foreclosing mortgagee must strictly comply with the statutory requirement that all assignments of the mortgage be recorded prior
The civil equivalent to criminal theft is called conversion. Conversion is defined as “unauthorized assumption in exercise of the right of ownership over goods or personal chattels, belonging to another, to the alteration of their condition or the exclusion of the owner’s rights. Any unauthorized act which deprives an owner of his property permanently or
Minnesota attorney Aaron Hall speak with Tom Sedlack, general manager of 33rd Company, a property management service. Tom explains some of the typical problems landlords run into and how 33rd Company can help solve them.
Minnesota attorney Aaron Hall speaks with Brian Call, president of Rubicon Mortgage Advisors, about Rubicon Mortgage Advisors and the mortgage industry as a whole.
Transcript Steve Freeman: I’m sitting with Steve Katkov of Thompson Hall. So even though there are more protections in a residential lease, there probably needs to be much more protection in a commercial lease because that can have a larger impact on the finances of an owner. Isn’t that right? Steve Katkov: Absolutely. And the
Transcript Steve Freeman: I’m sitting with Steve Katkov of Thompson Hall. And I’m here today. I would like to be able to talk with my visitors about what it takes to lease a property for small business owners. And the people I’m talking about would be those that might be an owner just by themselves
Transcript Steve Freeman: I’m sitting with Steve Katkov of JUX. Let’s talk a little bit about what a common area is. What—How would I know that it’s a common area that I need to be responsible for in my other expenses? Steve Katkov: I find the easiest way, Steve, is to think about common area
Steve Freeman: I’m sitting with Steve Katkov of JUX. Is it best to have a written agreement? Or is it okay to have a verbal agreement between a landlord and a tenant? Steve Katkov: Steve, it’s a great question because many people blur the distinction between the very rigorous requirements of residential leasing with the
Transcript Steve Freeman: I’m sitting with Steve Katkov of JUX. I have another question. I’ve spoken to a small business owner that had a space, a retail space clothing store. Next door was a restaurant and the grease trap gets clogged and damages her unit. Now it’s not her issue—well I won’t say it’s not
Below is a conversation between Steve Freeman and Attorney Steven Katkov regarding commercial lease issues. Steve Freeman: I’m sitting with Steve Katkov of JUX. Let’s talk a little bit more about the aspects of the lease itself. And one of those would be security deposits. This seems like it can be all over the board
Transcript Aaron Hall: I’m Aaron Hall, business attorney in Minneapolis. Steve Freeman: I’m sitting with Steve Katkov of JUX. When it comes to, let’s say, the small business owner they’re looking for 1200 square feet. Let’s say that their rent is going to be $2000 per month. What would be an average amount that they
Transcript Steve Freeman: I’m sitting with Steve Katkov of JUX. Let’s say that a tenant moves into a retail space in a strip mall. And there are ten spaces. They’re all full. This tenant makes the last space, completely full. There are x amount of operating expenses for the property, and everybody’s paying pro-rata. So
Transcript Steve Freeman: I’m sitting with Steve Katkov of JUX. Let’s go back and talk a little bit about repairs. You talked before about repairs that needed to be done on the property. Some of the things that I’ve heard from small business owners are where there is a repair that needs to be done,
What is the Program? Legislation passed in 2001—the Sustainable Forest Incentive Act (SFIA)—allows annual payments to be made to enrolled owners of forested land as an incentive to practice long-term sustainable forest management. Who is Eligible? To enroll in the sustainable forest incentive program, you must meet all of the following requirements: You own 20
This property classification, enacted in 2008, provides a reduced class rate of 0.65 percent to forested property that is subject to a current forest management (stewardship) plan and that meets other requirements. There is no minimum term of enrollment; property will receive the reduced class rate as long as it is enrolled and continues to
The Rural Preserve Program provides property tax relief for qualifying owners of rural vacant land in areas where the market value of the land is being affected by development pressure, sales of recreational land or other factors. The Rural Preserve Program This fact sheet provides information to property owners regarding the eligibility requirements for the
The Green Acres Program provides property tax relief for owners of agricultural property in areas where the market value of land is being affected by development pressure, sales of recreational land, or other non-agricultural factors. Green Acres (Minnesota Agricultural Property Tax Law) This fact sheet provides information to property owners who currently have land enrolled
What is a Special Agricultural Homestead? The Special Agricultural Homestead provision extends homestead status to property that is owned under a trust and farmed by the grantor, the spouse of the grantor, or a child, sibling, grandchild, or parent of the grantor or the grantor’s spouse who do not live on the farm. Homestead status
Special Agricultural Homestead Property Owned or Leased by a Qualified Entity: Minnesota Property Tax
What is a Special Agricultural Homestead? The Special Agricultural Homestead provision extends homestead status to farms owned or leased by a qualified entity and farmed by a member of the entity who does not live on the farm. Homestead status may result in lower property taxes than property that is not homesteaded. What is a