Real Estate Law | O'Keeffe O'Brien Lyson Attorneys

Real Estate Law

October 20, 2020

How to Protect Your Will from Unhappy Relatives

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 […]
October 16, 2020

Is There a Grace Period for Real Estate Purchase Contracts?

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 […]
October 14, 2020

Preparing for COVID-19: The #1 Legal Document Every Adult Needs to Have

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 […]
October 8, 2020

How to Create a Valid Will in North Dakota

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 […]
September 21, 2020

Don’t Risk it: Protect Your Finances From Coronavirus Complications

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 […]
February 14, 2020

Things I Wish I Had Known Before I’d Bought My House

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 […]
November 20, 2019

Should I Have an Attorney Look at My Real Estate Contract Before I Sign it?

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.
April 25, 2019

When It Comes To Bad Landlords In North Dakota, Tenants Have Rights.

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 […]
April 1, 2019

Should I Let a Buyer in Our Home Before Closing?

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, […]
December 10, 2018

Real Estate “Dual Agency” – What does it mean?

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 […]
September 5, 2018

What is a Disclosure Statement?

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 […]
February 28, 2018

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 […]
February 22, 2018

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 […]
February 8, 2018

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 […]
January 19, 2018

What You Need to Know About Minnesota’s Buffer Law

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. […]
December 12, 2017

Minnesota Land Transfers

Revised Minnesota statute (272.162) gives counties the same power as municipalities and townships to review land divisions and transfers. This power is most often used to deny inaccurate land transfers or illegal subdivisions. This law will help the state better conform with land regulations and result in landowners receiving additional […]