Rental Property

With an improving economy people are again looking at buying rentals as another source of investment income.  Although I personally like the added control of owning and managing your own investment, there are some things to consider:

Get a security deposit.  It’s common to have some ne... continue reading »

Building on the Lake

There are many potential issues for building on a lake.  Most people understand that there are setback rules for lot lines, roads and lakes.  As to lakes, the distances vary depending on the lake classification.  Even when you know your classification, the setback is not from the water’s edg... continue reading »

Manufactured Homes and Fixtures

When you own real estate you also own any fixtures attached thereto.  In general, a fixture is something permanently affixed to the land.  A structure attached to a foundation, for example, or within a house, cabinets or fixtures that would require tools to remove from the walls, would generall... continue reading »

Torrens vs. Abstract Title

In Minnesota, your land is either torrens or abstract title.  Torrens or registered title is identified on your deed by having a T before the document number and often the deed will reference Torrens specifically.  If your land is Torrens, your land was officially registered through a court pro... continue reading »

Problems with Title Insurance

Most buyers simply order title insurance from whatever company is recommended by their realtor or banker.  They then pay for this insurance at closing without any understanding or explanation of what the insurance covers or more importantly, doesn’t cover.

Our firm owns both Quality and... continue reading »

Business Succession

In our lakes area communities, there are many businesses that have been in business for 40, 50, 100 years or more. These ‘legacy businesses’ standout as a testament to the owners’ hard work, dedication, and planning. According to Inc.com, 96% of businesses fail within the first 10 years. So... continue reading »