Real Estate | 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 »

Environmental Considerations in SBA Gas Station Loans

Loans made to or involving gas stations can present the lender with some unique environmental concerns. As such, the SBA Standard Operating Procedures (“SOPs”) include specific requirements for all loans secured by a lien or security interest on real property (a fee simple or leasehold… Read more »

Tax Forfeitures

This is a follow-up to our Advisor article “Property Tax Forfeiture”.  The full article can be found here. The beginning of the year is the time to start thinking about property taxes in Minnesota.  When property taxes are not paid in the year due, the taxes become delinquent… Read more »

Why You Shouldn’t Waive the Landlord’s Waiver

Although seemingly a relatively straightforward document, Landlord’s Waivers (sometimes referred to as Landlord’s Agreements, Lessor’s Agreements, Landlord’s Consents, Landlord’s Certificates, etc., generally referred to as a “Landlord’s Waiver”… Read more »

Property Tax Appeals

PROPERTY TAX APPEALS MUST BE FILED BY APRIL 30, 2014. April is the month to be thinking about property taxes in Minnesota.  Each spring, property owners are notified of their proposed property taxes payable the following year.  This property tax assessment is determined, in part, by the… Read more »

The New CFPB Mortgage Rules: A Summary of What They Are and What They Mean

The Dodd-Frank Wall Street Reform Act and Consumer Protection Act (“Dodd-Frank Act”) amended both the Real Estate Settlement Procedures Act (“RESPA”), which is implemented by Regulation X, and the Truth in Lending Act (“TILA”), which is implemented by Regulation… 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 »

New Notice Requirements for Residential Contracts for Deed

During the recession of the last several years, the amount of financial institution-owned real property reached historically record levels. As the economy continues to improve we are seeing, for the first time in a long time, financial institutions selling more OREO property than they are acquiring.… Read more »

Reminder! Property Tax Appeals Must Be Filed By April 30, 2011!

April is the month to be thinking about property taxes in Minnesota. With the widespread decline in the market value of real property, many properties are being taxed at an amount far in excess of their fair market value. Property tax appeals, for taxes payable in 2011, are due by April 30, 2011.… Read more »

Issues to Consider Prior to Acquiring OREO

When an event of default occurs with respect to a loan that is secured by a mortgage encumbering real estate, there are a number of issues that should be investigated by the bank prior to its acquisition of the real estate (“OREO”). The bank’s due diligence related to such issues… Read more »

Management of Vacant and Foreclosed Properties

With winter fast approaching, it is important for lenders to pay a visit to real estate which is, or is about to become, subject to a foreclosure proceeding to determine the occupancy status. If a subject property is vacant and unoccupied, lenders should make certain that the property is properly… Read more »