Today we're doing a four-part series about contract for deeds. So, what I did is I invited a good friend of mine named John Leaf. He's an attorney here with Jonathan W. Leaf PA. He runs his own law firm. First off, John, won't you tell us a little bit more about your experience? You've been an attorney here for 33 years, okay? Maybe tell me some more about your experience in education. Okay, sure. Well, like David said, I've been practicing law in Minnesota for 33 years. I graduated from William Mitchell Law School in St. Paul in 1980. Right after I got out of law school, I went into practice on my own and sent announcements to everybody I knew in the world, pretty much. One of my first clients was an individual who was interested in investing in contracts for deed. Through that particular client and other contacts that I made along the way, my practice in the early days evolved fairly quickly into a practice that was primarily involved in real estate and contracts for deed. Although, in the early days in the 1980s, I did everything else - I did divorce, bankruptcy, criminal, personal injury, you name it, I did it. But gradually over the years, because you can't be a specialist in everything, my practice has evolved into a real estate, estate planning, and probate practice. Okay, and you're also a certified real estate law specialist, certified real property law specialist, right? That's a designation that the Minnesota State Bar Association's real property law section awards. In order to be a certified real property law specialist, you need to take and pass an exam. You need to get recommendations from other real estate lawyers, and a certain percentage of your practice has to involve...
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Minnesota contract for deed statute Form: What You Should Know
Subdivision(a) the acquisition or use of any property, other than residential property, by Purchaser (the Vendor), and in which (i) the Vendor is the sole and entire owner or lessee of the property and, (ii) Vendor shall have exclusive possession, use and control of the property; and View the law, Minnesota Statutes, Chapter 267.26, subdivision(b) WHEREAS, Purchaser intends to construct, construct, construct, install, operate, maintain, operate, and maintain upon a permanent foundation within the Vendor's land the following: A Towering Structure; an enclosed park; a sports and recreation facility; a sports and recreational center; a golf course; a playground; a tennis court; a swimming pool; a play structure; a dog walk course; and a walkway; a multi-use area and structure; an outdoor fitness center; an onsite health services facility; a community recreational facility; a park; parking lots; and a driveway; and WHEREAS, Purchaser has purchased such property for a price of 1.00 or more and the cost of acquiring and constructing such the property was less than 100. WHEREAS, Purchaser intends to construct, construct, construct, install, operate, maintain, operate, and maintain such the property within the Vendor's land within 4 months after Contract is executed; whereas, Purchaser would like, in lieu of a title insurance policy, to use or purchase a private property deed as security for the amount of such funds or other payment or payment obligations; and WHEREAS, Purchaser is aware that there are no private property deed or certificates of title to be obtained for the amount paid by Purchaser; whereas, Purchaser would like, in lieu of a private property deed or certificate of title to be obtained for the amount paid by Purchaser, to obtain a state or city (or other jurisdiction) tax deed as security; whereas, the value of such property purchased is 1.00 or more and the cost of acquiring and constructing such the property was less than 100.
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