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 »
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:
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 »
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 »
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 »
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 »
Past articles have discussed the advantages of having your cabin in trust so that you avoid probate. Other articles have talked about why you should hold title in a cabin trust if the cabin is shared by multiple families. A more recent issue, however, is that many people now rent out the cabi... continue reading »
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 »
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.
Most people assume that if their road has a road sign or shows up on the city map they live on a public road. Or, at least if the road has been there for years, no one would question their access rights. Unfortunately, lending standards have changed over the years and you or your potential bu... continue reading »