– Legal Insights –
This article is the second in a series about changes in the MCIOA. In this series of articles, we are analyzing the different provisions of SF 1750, which made numerous changes to the Minnesota Common Interest Ownership Act (“MCIOA”). With the exception of a few changes in definitions, which were...
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In my previous career as a real estate broker, I used to advise clients there are three legs to a multifamily property valuation stool: Physical – the physical structure and mechanicals. Financial – the income and expenses. People – as financial assets or liabilities. This article addresses the third stool,...
Liability waivers are common in many contracts between businesses and the general public. Whether the contract covers in-home daycare or bungee jumping, it likely includes language intended to function as a release or a liability waiver that the business owners hope will act as a shield in the event of...
The Financial Conduct Authority (“FCA”) in the UK has announced that it will no longer require banks to submit London Interbank Offered Rate (“LIBOR”) quotes after 2021. This change requires careful review and action for lenders, borrowers and investors. LIBOR’s significance in the industry is demonstrated by its prevalence –...
People who make a disability claim in the U.S. will have stronger protections when a new rule goes into effect April 1, 2018. Late last year, the Department of Labor released a final rule to strengthen the claims and appeals requirements for plans that provide disability benefits. A big reason...
A Minnesota federal judge recently issued an order that has big potential implications for Minnesota homeowners who had part of their claim denied by a matching exclusion. Specifically, customers of American Family should be aware of this order, especially those covered by a Gold Star Policy. The Order was issued...
Super Bowl LII hosted in Minnesota will impact just about every area of our economy, including real estate. In a prior article, I discussed issues surrounding short-term rental of homes to accommodate the influx of members of the media, spectators, team members and staff to the Twin Cities. As kickoff...
While 2017 has brought great fortune and growth in the real estate market, the year has unfortunately also seen several management companies’ theft/embezzlement from their association clients. To be clear, these incidents were isolated. By far, most management companies take the manager’s fiduciary role very seriously, and have multiple checks...
If you are a landlord of residential rental property in the state of Minnesota, you may be subject to a rent escrow action to remedy alleged “violation(s)” at your property. What is a rent escrow action? A rent escrow action is a Minnesota statutory provision that permits a residential tenant...
The Office of the Comptroller of the Currency (OCC) shared several updates over the past six weeks that require the attention of financial institution leaders. In fact, some changes go into effect as soon as December 1, 2017. On September 28, the Committee on Bank Supervision (CBS) for the OCC...
The history of non-compete agreements might be described as a pendulum. The past five years have seen a significant movement in employer attempts to broaden noncompete agreements and limit employee protections. A decision this year from the Federal Circuit, as well as other recent developments, suggests, however, that the pendulum...