– Legal Insights –
If you are expecting an inheritance, an estate planning tool known as a trust may prove useful, depending on your circumstances. Among the numerous types of trusts aimed at fulfilling different estate planning purposes, an inheritor’s trust is specially designed to help protect an inheritance. Purpose of an Inheritor’s Trust...
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Governor Pawlenty has just signed the “Right to Repair” amendment into law with an effective date of August 1, 2006. This amendment to the Minnesota homeowner’s warranty statute will require the owner to allow the vendor (i.e. builder or home improvement contractor) an opportunity to inspect the property and offer...
FACT OR FICTION: A construction bid is an offer, and if it is accepted, a legal contract is formed. ANSWER: FACT! A contract is a promise, or a set of promises, to which the law attaches a legal obligation. For a contract to be enforceable there must be an offer...
The “pay-if-paid” or “pay-when-paid” clause is frequently included in subcontracts. These clauses state that the general contractor is not required to pay the subcontractor unless and until the project owner pays the general contractor. Such provisions can be problematic to subcontractors when collection action is necessary. If the subcontractor demands...
NO MECHANICS LIEN RIGHTS? TRY A CONSTITUTIONAL LIEN Most people in the construction industry are familiar with mechanics liens. Under Minnesota law, if a contractor or material supplier is not paid for its services, it may file a lien against the real estate involved to secure payment. There are many...