Buying Real Estate: Investigate the Title
July 14, 2010 | Barna, Guzy & Steffen, Ltd.By Timothy D. Erb In Brief Newsletter Fall 2006 In the past, when a buyer wanted to investigate the title to real estate, a call to his or her attorney was likely necessary. Today, there are two methods to investigate a title to real estate: hiring an attorney or using a title insurance company. Title insurance is very similar to an opinion of an attorney in that it provides an opinion as to the status of the title. However, title insurance also creates a way to make a claim on the policy if the opinion of the title company is incorrect. This article provides additional information regarding investigation of the title to real estate when the buyer elects to obtain title insurance. There are two types of title insurance that the typical buyer will be offered. First , a title company will offer a lender’s title insurance policy to the buyer. If a buyer is purchasing the real estate with the assistance of a lender, the buyer will be required by the lender to purchase this policy. A lender’s title insurance policy will only cover the lender in the event of a title problem. Second, a title company will offer an owner’s title insurance policy to the buyer. An owner’s title insurance policy…
Read MoreConfronting Employees with Bad Attitudes
July 14, 2010 | Barna, Guzy & Steffen, Ltd.By Bradley A. Kletscher In Brief Newsletter Winter 2006 Every employer has had an employee with a poor attitude. It may be the employee who gives fellow employees the cold shoulder. Or it may be an employee who tells you he will follow instructions and then turns around and does what he wants. It might even be an employee who is rude to customers who are asking for help. While each situation is different, the common theme is that the employee has a bad attitude. [maxbutton id=”1″ ] As hard as it is from a personal level to confront employees with a bad attitude, and employer must do it. Allowing a bad attitude to continue will only make the work situation intolerable. An employee with a bad attitude can cause you to lose customers, to lose good employees, to decrease productivity or in general to deplete the attitude of other workers in the workplace. Following are some suggestions which may help you deal with this issue. First, look for a candidate with a good attitude during the hiring process. During the interview, ask questions designed to reveal the potential employee’s attitude in varying work situations. When you talk to references, try to ascertain the potential employee’s attitude while employed. Prevention is the best…
Read MoreBeware of the Franchise
July 8, 2010 | Barna, Guzy & Steffen, Ltd.by Kip R. Peterson and Dainel D. Ganter, Jr. Spring 2010 In Brief Newsletter Believe it or not, your business could be a FRANCHISE. If so, failure to comply with applicable laws and regulations could result in serious consequences. Ignorance of these laws and regulations is no defense. When most people think of a franchise they think of fast-food restaurants, fitness chains and hotels. However, Minnesota law broadly defines the term “franchise,” potentially expanding the reach of the franchise laws and regulations to include legal arrangements such as license agreements, consulting agreements, and distribution agreements. It is important to note that it doesn’t matter what the parties call their relationship. If the elements of a franchise are met, the parties must comply with the franchise laws and regulations. Minnesota law defines a “franchise” as a contract or agreement between two or more persons which satisfies the following elements: (1) a franchisee is granted the right to engage in the business of offering or distributing goods or services using the franchisor’s trade name, trademark, service mark, logo or other commercial symbol or characteristics; (2) the franchisor and franchisee have a “community of interest” in the marketing of goods or services; and (3) the franchisee pays a franchise fee. Two of the three elements of…
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