Real Estate Law

Having an updated last will and testament is more important than ever, especially now. However, a will that is poorly created or not frequently updated can be vulnerable to contestation. What is contestation? It is the formal objection to a will’s (or trust’s) validity because it either: a) doesn’t reflect […]

Nearly every adult and child of age to make a purchase in North Dakota or Minnesota has experienced “buyer’s remorse,” that feeling one gets when one makes a purchase that is not as great of a bargain as the buyer initially thought. Perhaps it was a “splurge” purchase that, upon […]

As the coronavirus continues to disrupt daily life and leave Americans uncertain of the future, you don’t have to feel helpless during this pandemic. In fact, now is a great time to be proactive and plan ahead should you or a loved one fall ill. One of the most important […]

In light of the current pandemic, many Americans are becoming aware of the importance of creating or updating their estate planning documents. With the extension of some states’ stay in place orders, it may be tempting to create your own documents all on your own. Whether you are considering writing […]

Many Americans spend a lot of time and effort in managing their finances. While most are worried about how the coronavirus (COVID-19) will impact their income—whether that’s because they are temporarily furloughed, find themselves suddenly without a job, or watching their investment and retirement accounts dwindle—there is another way COVID-19 […]

Buying your first house is right up there with many of the milestones of American life: buying your first car, choosing a college, getting married, and having a baby. All require (or should require) a considerable amount of thought to get it right. First time home buyers often spend a […]

Nearly all real estate transactions involve the signing of a real estate contract. While there are some common mistakes made in association with real estate contracts, one of the most common errors people make is to not obtain the assistance of a knowledgeable attorney before signing the contract.

In North Dakota, foreclosures are governed by state law.  The process of foreclosing on a property requires several notices before foreclosure can take place.  The lender must give the borrower at least 30 days notice of the intent to foreclose.

One of the first things a person typically does after deciding to rent an apartment or other living quarters is to sign a lease. Sometimes a lease can be a simple document, but oftentimes, especially when renting from an experienced landlord with many rental units, the lease can be very […]

Couples who are about to get married encounter no shortage of advice. Always side with your spouse in disagreements between your spouse and your parents. Never go to bed angry, and its opposite, wait until you have calmed down to discuss contentious issues. Maintain your own separate hobbies and identities, […]

In real estate transactions, dual agency means one real estate agency or firm represents more than one party.  For example, a real estate agent becomes a dual agent when he or she represents both buyer and seller.  Dual agency also arises when the same real estate agency or brokerage firm […]

There are many reasons to consider refinancing your mortgage, including lower interest rates, lower monthly payment, or debt consolidation.  If you are thinking about refinancing your existing mortgage, consider utilizing the assistance of an attorney in doing so.

A disclosure statement in a real estate sale is a document completed prior the closing which requires the seller to disclose known material defects of the home.  The disclosure statement is an opportunity for the buyer to learn about all potential defects of a home.  The disclosure statement is also […]

At O’Keeffe O’Brien Lyson Attorneys of Fargo, our attorneys can help create an estate planning strategy designed specifically for your situation by using the best available tools, including:

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 […]

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 […]

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 […]

The buffer law in Minnesota creates new “buffer” layers for vegetation of up to 50 feet along lakes, rivers, and stream. A buffer refers to vegetated land that exists alongside a stream or river. The reason for these buffers is that they help to filter out nitrogen, phosphorus, and sediment. […]