What’s involved in buying a business? It may be as simple as purchasing a truck, inventory, and equipment or as much as purchasing all the shares of a corporation.
One way to proceed with the purchase of a business is to buy all the assets related to the operation of that business. This ... continue reading »
Often a new business is started with high expectations of success and profits, perhaps on a national or worldwide scale. We imagine that our little company will grow into the next Honeywell, Microsoft, or dare we say Snapchat. Or we just imagine that our company will succeed in the town in which ... continue reading »
The following article is about the transition to the new Minnesota Revised Uniform Limited Liability Company Act. The old statute governing the formation, operation, and management of limited liability companies (LLCs) in Minnesota will be repealed and replaced by the new statute on January 1, 20... continue reading »
The following article is on the role of volunteers as board members and officers of community non-profit organizations. Our law firm assists many area community groups with their entity formation, governance, and other legal concerns.
Volunteers are an integral part of our small communitie... continue reading »
What comes to mind when we think of a lease agreement is often that first apartment we rented after high school or college. The first lease that I signed was a lengthy document on legal-sized paper with single-spaced paragraphs in small font. It contained words such as ‘term’, ‘security dep... continue reading »
In previous articles, we have explained why it is important to have an estate plan and have in place documents such as a will, power of attorney, and health care directive. This article explains what happens when you don’t have a plan in place when you pass away. So, what happens if you die wit... continue reading »
This article addresses issues from the standpoint of a prospective buyer, and it’s the first in a series of articles on Common Interest Communities (CICs), homeowners’ associations, and other aspects of planned developments. Our law firm has expertise in the laws governing CICs in Mi... continue reading »
Associations are a common way to own land in Lakes Country for a couple different reasons. Probably the most common example is to address senior living arrangements where owners want to still own their own home but avoid lawn maintenance and other headaches of single family home ownership. Th... continue reading »
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 »
Many people take title subject to mineral rights or other restrictions. Most people ignore the details and some worry too much. Here’s the basics you should know about your land or property you are looking to buy.
Minerals – Many titles, especially in Northern Minnesota, are divide... continue reading »