Understanding Real Estate Arbitration in Minnesota Most Minnesota residential real estate purchase agreements offer buyers and sellers the option to choose real estate arbitration instead of going to court to settle disputes. Like any major decision, arbitration has both advantages and drawbacks. This guide will help Minnesota buyers understand how to approach this choice and…
Continue ReadingA mechanic’s lien statement is a legal document used by contractors to claim a lien against property in Minnesota. What A Mechanic’s Lien Statement Must Include: A contractor must include the following information in a mechanic’s lien statement: Filing And Serving A Mechanic’s Lien Statements The statement must be recorded in all counties where the…
Continue ReadingMinnesota’s Prompt Payment Act Minnesota’s prompt payment act provides that all construction contracts are deemed to require a prime contractor and all subcontractors to promptly pay their subcontractors and material suppliers within ten days of receipt of payment for undisputed services Penalties under Minnesota’s Prompt Payment Act A contractor or subcontractor who receives payment but…
Continue ReadingProperty owners should take steps to avoid Minnesota mechanic’s liens against their property. A prudent homeowner can avoid liens by paying subcontractors directly, withholding payment where allowed by law, and requiring general contractors to provide information. Pay Subcontractors Directly to Avoid Minnesota Mechanic’s Liens The mechanic’s lien statute has certain provisions that protect owners against…
Continue ReadingIn Minnesota, there are several important mechanic’s lien deadlines that must be followed in order to properly claim and enforce a mechanic’s lien. These deadlines are set forth in the state’s lien statutes, and they vary depending on the specific circumstances of the lien claim. Here are some key deadlines to keep in mind: Pre-Lien…
Continue ReadingBuilders seek to build homes in conformity with local building codes and industry standards. Sometimes their work falls short. If that happens, a property owner may be entitled to pursue a contractor negligence claim. Contractor Negligence Defined Contractor negligence claims are among the most common claims asserted against builders. While the term “negligence” is commonly…
Continue ReadingIntroduction Both property owners and contractors should invest in a quality construction contract before work commences. This article details some of the most important provisions that are typically found in a Minnesota construction contract.
Continue ReadingMost residential real estate purchase agreements in Minnesota offer the buyer and seller the option of agreeing to real estate arbitration, rather than a trial in court, as a way of resolving disputes. As with all choices in life, there are positives and negatives to selecting arbitration. First, it is important to understand that your…
Continue ReadingA Minnesota real estate agent must disclose facts about a home to a new buyer. A seller of real property is not the only one obligated to disclose facts about real estate. Real estate agents are also obligated to disclose to a prospective buyer information about the real estate.
Continue ReadingSellers of Minnesota real estate must make a seller disclosure. Minnesota law requires that all sellers of residential property disclose to prospective buyers all “material facts” that could affect a buyer’s use and enjoyment of the property. Minnesota law also requires that real estate salespeople disclose to buyers material information that they may know about…
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