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Saint Paul Estate Planning Law Blog

You may be able to obtain property through adverse possession

If there is a property you've always wanted but have noticed it has been abandoned for some time, there may still be a chance you can obtain it. While a typical real estate transaction would require you to find the owner and make an offer on the property, laws of adverse possession may help you obtain the property without having to locate the owner.

When you openly inhabit the property that you don't own and make improvements to that property, you may be granted the title to the property under adverse possession laws. There is a time period you must do this for before you can receive the title. The waiting period is a reflection of the statute of limitations laws, which could subject you to trespassing charges until they run out.

What can you do if zoning doesn't allow you to run a business?

When you purchase a property, you likely already have an idea of what you want to do there. Zoning laws will affect what you are allowed to do in the space. Zoning laws restrict many activities and set requirements you must abide by.

If you violate a zoning law, you may have your business shut down or temporarily closed. Fortunately, there are ways to get approval for business use even if the zone is only residential or created for other purposes.

What is a confidentiality agreement?

If you're running a business, one of the things you may ask new employees to sign is a confidentiality agreement. With this agreement, you're asking that the employees do not talk about the work you do. If someone breaches this agreement, then you have a right to legal action against him or her in most cases.

A confidentiality agreement is a legal contract. It is binding and has terms and conditions that restrict what an employee can say about his or her job. The employee, for example, may not be able to discuss the work platform used to reach out to clients or could be restricted from talking about his or her clients outside the workplace.

Mortgage rates are on the rise in the United States

As someone interested in purchasing a home, one of the most important things to understand is your mortgage rate. Shopping for a good mortgage rate is vital, because even a percent difference on a loan can mean thousands of dollars spent on interest that you'd rather spend on your loan's principal balance. Over time, you could end up spending $20,000 or even $30,000 in interest alone.

What's interesting now is that mortgage rates have been rising. A May 2 report states that the average 15-year fixed mortgage and 30-year fixed mortgage rates grew to an average 3.9 percent. That's up three points from the week prior.

You can open a business by making business plans now

If your goal is to start a business, Minnesota is a good place to be. There are several steps you need to take to begin. When you're ready, it's a good idea to take your business plans to your attorney for a review. Your business plan can help you get the funding you need from a bank. Additionally, your attorney may need to help you with contracts and paperwork.

The first thing you need to do when you're ready to create your business is to create a business idea. What is your business, and how will it benefit the community?

Why should you work with a real estate attorney?

You may not understand why you need a lawyer when you decide you want to buy a home, but there are several good reasons. While the home-buying process seems relatively straightforward, it's not as simple as you think. There are contracts to sign and negotiations to make, all of which your attorney can help you with.

The first reason you should work with an attorney is because you'll be signing a contract. It's vital that you know that the contract adheres to the state laws and specifies any issues that could come up with the use of the property. Your attorney can help write down any contingencies you want to add to the contract and resubmit it to the seller for review.

Get the perfect location: Finding a place for your franchise

You decided to open a franchise, and that's an exciting thing to do. It's very important to open this franchise in a good location, so you can make the best of this opportunity.

After you sign the franchise contract, it's important for you to get it up and running. Now that you're ready, you can make sure you get the best location. How? Start by looking at how well other businesses do in the area. Busy plazas are fantastic for new franchises, especially if there are few similar franchises open in the area. You may also want to look at the cost of the new location, because weighing footfall against your expenses is vital.

Mortgage rates drop again in April

Mortgage rates play a major role in how many people take out mortgages and when. When mortgage rates are low, you can purchase a home with less interest, making it more appealing. When they're high, it's harder to get a mortgage with lower interest rates, making it less likely for people to buy at that time.

An April 5 report showed that mortgage rates had dropped again. The average rates found for 15-year, 30-year and 5/1 adjustable-rate mortgages had all dropped. Since these are at a lower rate, it's a good time for people who want to purchase a home or property to begin looking into a mortgage.

Get your business started right with the right advice

Business and commercial law are areas of law that often overlap. If you're opening a business and intend to sell items commercially, then you may need help from an attorney who understands both business and commercial law, for example.

Business law itself focuses on things like setting up your business, merging with another business or leasing a warehouse space. Comparatively, commercial law focuses on leasing goods, selling goods and other commercial transactions.

Protect yourself from liability with the right business entity

When you run a business, it's important that you protect yourself and your personal assets. If you decide to have a sole proprietorship, you run the risk of being held liable for anything that goes wrong with your business. That means that if your business goes bankrupt, you may go bankruptcy as well.

To avoid this, you should open one of two kinds of business entities. One, a single-member LLC, is a limited liability company recommended for small businesses. A corporation, on the other hand, is a large business that protects its owners from liability. Corporation entities are best for large businesses that may want to encourage investment into its products.