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Mechanics Liens Process for Contractors and Subcontractors

Mechanic's liens provide contractors and subcontractors with a means of collecting payment for construction work and supplies. The lien allows you to eventually take possession of property upon which you completed work for which you were not paid.

Balloon Mortgage -- Low Payments, Until the Loan Bursts

Stanzer Knox refinanced his home in 2006 with a 30-year $185,000 mortgage - or so he thought. Mr. Knox soon discovered that he had agreed to pay the mortgage on his Minnesota home within the 30-year period, but he had 40 years' worth of payments to make. At the 30-year point, Mr. Knox would have to make a lump-sum payment of $121,062.58, equal to 120 monthly payments.

The Legal Ramifications of Concealing Defects in Real Property

You may have heard of the phrase caveat emptor - let the buyer beware. In the context of American real estate law, this means that the burden is upon the buyer of real property to ensure it is free of defects before agreeing to purchase it.

Understanding Property Easements

Simply put, an easement is a vested right of someone other than the property owner to use the property in some limited capacity. Unlike a license, the property owner cannot simply revoke an easement when it is no longer convenient. Instead, an easement is a titled interest in land that can be bought and sold, may be recorded as part of the property's chain of title - and under the right circumstances can remain binding even after the property changes hands. In other cases, an easement may come into being based on the circumstances. These are called implied easements but are often no less real in the legal sense than those that are deliberately created by property owners.

Contentious Issues in Commercial Property Disputes

Most people think of landlord-tenant disputes as simple and straightforward. While that may be true in the residential context - where most such disputes involve rental payments - the landlord-tenant dynamic can be quite complicated in the realm of commercial property. Commercial leases are much more complex than their residential counterparts and often grant tenants both freedoms and responsibilities that would be unthinkable in a residential contract.

Should You Finance Your Buyer's Real Estate Transaction?

Seller financing occurs when a seller helps to finance a real estate sale. It is usually used when the buyer has trouble meeting the purchase price or can't otherwise qualify for a conventional loan. This process is different from a traditional loan, because the seller doesn't give the buyer cash for the entire price as a typical lender would to make the purchase.

This Land Is My Land

Nothing ruins the happiness and peacefulness of your home faster than a dispute with your neighbor. You are reminded about the conflict every time you set foot out the door. One of the most common types of neighbor disputes involves disagreement over the boundaries of the land itself. Where does my property end and where does yours begin?

Common Causes of Real Estate Disputes

Real estate disputes lead to big, expensive problems. Whether you are an individual purchasing your dream home or a Minnesota business entering into a commercial real estate lease, some of the most common real estate disputes can be avoided with protection from carefully drafted contracts. The most frequent types of real estate disputes include:

How Do I Handle a Mechanic's Lien?

You are ready to sell your property or refinance. All the paperwork is ready, everything is proceeding smoothly, and then you hit a roadblock. A mechanic's lien has been filed against your property. You knew nothing about it. So how did it happen? Unfortunately, as the current property owner, you are responsible for payment, even if you have already paid the direct contractor. The qualified real estate attorneys at Hess & Jendro Law Office, P.A. can guide you to a successful resolution of your mechanic's lien problem.

Understanding Commercial Loan Workouts

When businesses default on their loans, both lenders and business owners lose. In this tough economic climate, it is easy for businesses to get behind. However, when creditors work with borrowers, rather than "throwing out the baby with the bath water," mutually beneficial solutions can be found. Commercial loan workouts protect mortgage holders' investments while relieving pressure on businesses, allowing them to avoid bankruptcy and get their back payments back on track.

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Elk River, MN 55330

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