Real Estate


Tenants & Landlords: Practice Area Team

Tenants & Landlords - Team Leaders On paper the landlord-tenant relationship sounds simple enough. The landlord maintains ownership of the property and the tenant has the right to use the property, as established in the terms of the lease or rental agreement. But for most people, the typical landlord-tenant relationship is fraught with tension. Disagreements abound

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Mortgage Recording Requirements

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

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Conversion

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

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What Is Property Management? Why Landlords Need Rental Property Management Services

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. Aaron: I am Aaron Hall, Attorney in Minneapolis. Tom Sedlack is with us today, he is a rental property manager.

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Q&A with Brian Call of Rubicon Mortgage Advisors

Minnesota attorney Aaron Hall speaks with Brian Call, president of Rubicon Mortgage Advisors, about Rubicon Mortgage Advisors and the mortgage industry as a whole. Brian Call, CRMS, MMS President, Mortgage Loan Originator Office: (952) 921-3336 Cell: (612) 242-0460 Fax: (952) 230-7814 briancall@rubiconmortgagellc.com www.rubiconmortgageadvisors.com 7101 York Avenue South, Suite 385, Edina, MN 55435 Aaron Hall: I’m

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How to Negotiate a Commercial Lease

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 goal

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Tips on Leasing a Property for Small Business Owners

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 leasing

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What is a Shared Common Area in Rental Property? What are Cam Charges?

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 as

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Should a Landlord and a Tenant have a Verbal or Written Agreement Lease (Agreement)?

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

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What Happens When My Commercial Property gets Damaged by Another Tenant?

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 her

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Aspects of a Commercial Lease

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

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Rules and Scenarios with Leasing and Subleasing

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 would

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Does a Landlord Have the Right to Increase the Operating Expenses if a Tenant Moves Out?

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 what

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Is My Landlord Trying to Get More Money from Me on Repairs?

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, and

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Sustainable Forest Incentive Act: Minnesota Property Tax

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. To enroll in the sustainable forest incentive program, you must meet all of the following requirements: You own 20 or more contiguous acres of land in

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Class C2 Managed Forest Land: Minnesota Property Tax

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

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Rural Preserve Property Tax Program: Minnesota Property Tax

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

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Green Acres (Minnesota Agricultural Property Tax Law): Minnesota Property Tax

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

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Special Agricultural Homestead Property Held Under a Trust: Minnesota Property Tax

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 mayresult in less property taxes than

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Special Agricultural Homestead Property Owned or Leased by a Qualified Entity: Minnesota Property Tax

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 "qualified entity"? A qualified entity is

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