Real Estate Lawyers in Prior Lake

Minnesota 1031 like-kind exchanges defer capital gains tax on real-estate sales when proceeds reinvest in similar property — strict 45/180-day deadlines + qualified intermediary required.

Minnesota adverse possession requires 15 years (must pay taxes for 5 years) of continuous, open, hostile, exclusive, and notorious possession.

Minnesota property boundary disputes are resolved through surveys, deeds, adverse possession, acquiescence, or boundary-line agreements — but they're often more about neighbors than law.

Minnesota construction defect claims are governed by statutes of repose (typically 6-15 years from substantial completion), pre-suit notice requirements, and warranty rules — but homeowners have real remedies if they act quickly.

Minnesota earnest money deposits: 1-3% typical. The deposit shows good faith and gives the buyer skin in the game; held in escrow until closing or contract termination.

Minnesota easements give one party the right to use another's land for a specific purpose — utilities, access, drainage, conservation. Created by deed, prescription, necessity, or implication.

Minnesota fair housing law — federal Fair Housing Act + state law — protects against discrimination in renting + buying based on race, color, religion, sex, national origin, disability, familial status, and (state-dependent) sexual orientation, source of income, etc.

Minnesota foreclosure: Non-judicial OR judicial. Typical timeline: 90-150 days.

Minnesota HOAs are governed by recorded covenants/declarations and Minnesota Common Interest Ownership Act. Disputes commonly involve assessments, architectural-control decisions, rule enforcement, and board governance.

Minnesota has TWO different homestead exemptions: one for property taxes and a separate one that protects equity from creditors.

Minnesota eviction (non-payment): 14-day notice for non-payment (Minneapolis/St. Paul have their own rules). Typical timeline: 30-60 days. Tenant-friendly posture overall.

Minnesota lis pendens — recorded notice of pending litigation affecting real property — clouds title and stops sales until resolved. Powerful but limited to specific claims about the property itself.