Litigation | News & Events

Property Tax Forfeiture

What is Property Tax Forfeiture? Property tax forfeiture is a process where the state takes ownership of real property if property taxes are not paid.  When property taxes are not paid in the year due, the taxes become delinquent as of January 1 of the following year.  Those holding liens… Read more »

First Steps in Liquidation and Collection of a 7(a) SBA Loan

While borrowers should repay their indebtedness in accordance with the terms and conditions of the loan, this is not always the case.  Borrowers default and, as a result, lenders must liquidate and commence collection in a prompt, cost-effective, and commercially reasonable manner. … Read more »

2014 Legislative Session Update

This year the Minnesota legislature made some significant changes to laws which affect banking and lending. The following is a brief summary of some noteworthy changes adopted by the legislature during its most recent session: 1. Minnesota Public Benefit Corporation Act Effective January 1, 2015,… Read more »

Renewal of Judgments

Our office often works with our financial institution clients to determine not only how to collect on a judgment, but also when to collect on a judgment. There is no requirement to immediately undergo collections upon judgment entry. Judgments in all states remain valid for a certain amount of time.… Read more »

Lessons from the Past can Protect you in the Future

The past several years can provide valuable lessons to lenders in the unfortunate event that current or new loans end up in foreclosure. A proactive eye towards certain aspects of the lending transaction can provide the key to a successful foreclosure. Therefore, before securing a loan with a… Read more »