Developers and Builders Beware: Tips From an Association Attorney
January 20, 2014 | Timothy D. ErbIn 1994, the Minnesota Legislature adopted Minnesota Statutes Chapter 515B, the Minnesota Common Interest Ownership Act (often referred to as “MCIOA” or “Chapter 515B”). Chapter 515B governs most townhome and condominium developments created after adoption of the chapter. Chapter 515B requires certain developers and/or builders of a townhome or condominium project to provide to any buyer a disclosure statement when a unit is sold to the buyer. A disclosure statement basically requires disclosure of material matters regarding the development. The disclosure statement has been required since inception of Chapter 515B and is not generally noteworthy or a change to common practice. However, it is noteworthy that due to a recent legislation error, most builders and developers are unaware that they may also be required to provide a disclosure statement even when they are not selling a unit to a buyer. Minnesota Statute Sec. 515B.4-101, formerly stated that when certain developers or builders are not transferring title to real estate but are merely transferring rights called special declarant rights, the developer or builder does not need to provide a disclosure statement. Special declarant rights are rights that are used by developers and builders to ensure that the development can be completed without material interference from the association. However, due to a recent legislative error,…
Read MoreAngela Woessner Appointed to Local School's Board of Directors
January 14, 2014 | Barna, Guzy & Steffen, Ltd.Angela M. Woessner, a shareholder who concentrates her practice in all areas of commercial real estate law, and graduate of Cretin-Derham Hall, has been appointed to the board of directors of Cretin-Derham Hall for a three year term. Cretin-Derham Hall is a Catholic, co-educational high school, co-sponsored by the Brothers of the Christian Schools and the Sisters of St. Joseph of Carondelet, committed to Christian values and academic excellence in grades nine through twelve. Angela is also a board member of the Cretin-Derham Hall Alumni Association.
Read MoreNew Year, New Policy?
January 8, 2014 | Adriel B. VillarrealWhen is the last time you reviewed your insurance policies? Many people purchase their policy when they are young and no longer covered under their parent’s policies or when they first buy a house and never think twice about it. But reviewing your car insurance policy is actually very important. This is a New Year’s resolution that is relatively simple to follow through on and could save you time and money in the unfortunate event that you or a family member is hurt in a car accident. A few weeks ago I finally decided to compare prices for my auto and home owners’ insurance policies. I was given some motivation to do so after the bombardment of insurance company advertisements during a college football. I guess in some way all the constant advertising caused me to think about my coverage and whether or not I was getting a reasonable rate for coverage. I jumped online and within about one hour I had quotes from several companies promising me the “best coverage” and experience etc. Ultimately, I determined that the effort of switching my auto, home, umbrella and life policies was not worth the marginal savings I was quoted. While I did not learn any earth shattering discoveries during my online searches one thing…
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