February, 2018 | O'Keeffe O'Brien Lyson Attorneys

February 2018

February 28, 2018
1031 exchange real estate law fargo nd

What You Should Know About Like-Kind Exchanges and Section 1031

If a person sells off a piece of investment property and realizes a financial gain, the property seller often pays tax on the gain at the time of the sale. For people who then use the amount of the sale to purchase another investment property, they will be required to […]
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February 26, 2018
vehicle crashes personal injury law fargo nd

Vehicle Crashes into the St. Louis River

At the end of October, law enforcement in Minnesota identified a motor vehicle operator who died when his semi truck slid into the St. Louis River as a result of recent snowfall and a slippery road. The vehicle slid off the northbound lane of Interstate 35. The vehicle landed on […]
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February 22, 2018
property issues real estate law fargo nd

The Role of Caveat Emptor in North Dakota Property Transactions

An important part of property law is “caveat emptor,” which states that in many cases a buyer is unable to recover damages from a seller for defects. As a result, a buyer is responsible if he or she purchases a piece of property with defects. Courts in North Dakota tend […]
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February 20, 2018
iindustrial accident personal injury law fargo nd

Worker Dies in Industrial Accident

A worker was recently killed during a fall at the Benson Power, LLC plant. The Benson, Minnesota police department reports that the man received emergency medical treatment and was taken to a nearby emergency room, but did not survive. The Occupational Safety and Health Administration (OSHA) is currently investigating exactly […]
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February 16, 2018
defense business law fargo nd

The Necessity Defense

A judge in Minnesota recently recognized a rarely used legal defense by allowing climate activists to use the necessity defense. These three activists were arrested and charged with felonies in 2016 after shutting down an overland pipeline. The activists argued that the pipeline company violated the law to protect citizens […]
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February 12, 2018
head on crash personal injury law fargo nd

Head-on Collision Kills Several People

Three individuals were killed recently in a head-on collision that occurred near Redwood Falls, Minnesota. Prior to the crash, a motor vehicle operator was passing another vehicle and struck a minivan that was headed in the opposite direction. Both motor vehicle operators, as well as a one-year-old boy who was […]
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February 8, 2018
estate taxes business law fargo nd

Minnesota Changes Estate Tax Requirement

Only one of 18 states, Minnesota still imposes inheritance taxes in addition to the federal estate tax levy. Minnesota’s estate tax, however, recently became much weaker. The state’s current budget includes $650 million in tax cuts, which involves increasing the estate tax exemption to $2.4 million for the year of […]
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