Given the dramatic rise in property values over the last several years in Southeastern Minnesota, your home has probably appreciated in value. However, there's a good chance that the profit from your home sale will not be taxable. Unmarried individuals can exclude up to $250,000 in profits from capital gains tax when they sell their [...]
In Minnesota, Sellers of residential homes have to disclose known material facts that could “adversely and significantly” affect the Buyer’s use and enjoyment of the property. This usually means things like hail damage or flooding and can be disclosed via a third-party inspection. But what if you think Casper the not-so-friendly ghost might affect Buyer’s [...]
Real estate encompasses not only one’s primary residence but also other real estate such as a vacation home or a rental property. The ideal form of ownership varies depending on the type of real estate you own. Below, we take a look at the different types of real estate and offer advice about the best [...]
Investing in real estate can be a complicated process. That is why many people turn to establishing limited liability companies, or LLCs, to account for all of the complex legal and tax implications of owning multiple properties. Before you advise someone on their options or choose one for yourself, here are some things you may [...]
As you look for a home, whether it's your first or your fifth, you'll need to decide whether you want to get a fixed-rate or an adjustable-rate mortgage. What's the difference? With fixed-rate mortgages, monthly payments remain the same for the life of the loan, no matter how long it runs. With an adjustable-rate mortgage [...]
Dear Friends, Family, Colleagues, and Clients, We are proud to announce the merger of our two law firms, Rochford & Langins, LLC and Schreiber and Jarstad. Under the new firm name of Rochford Langins Jarstad LLC, our lawyers and staff will be combining their knowledge and talents into one powerful team of advocates. Our offices [...]
Congratulations! You’ve made the decision to sell your home. You’ve packed and cleaned and scrubbed until your house was in tip-top shape. You’ve found a buyer and settled on a purchase price…now what? Do you need to have a written agreement? What has to happen before the purchasers can move in and you can move [...]
Congratulations! You’ve made the decision to buy a home! Maybe this is your first purchase. Maybe it’s your fifth, but it’s been years since your last closing. Either way you’ve got tons of questions. What is a closing? Do you need a lawyer? How much does closing on a house cost? Read on to find [...]
Most business owners are looking for additional liability protection when establishing their estate plan. They are typically fearful of an employee or customer suing for more than their insurance will allow for, or piercing the corporate veil and then coming after the owner’s personal assets. A revocable living trust is a great tool for incapacity, [...]
How do I transfer real property into my revocable living trust? Our attorneys will assist you with the retitling of your property. Typically, your property can be quit claimed from you as an individual to the trustee of your trust. For example, if you established a joint revocable living trust on January 1, 2015, the [...]
