Q: Is a quitclaim deed executed by a divorcing spouse in favor of their ex-to-be valid before their divorce is final? A. Yes B. No C. Maybe Answer: No Being a former corporate attorney didn’t give me a clue about answering that question (my first guess was “Yes,” followed by “Maybe”). Which is a good reason...Read More
“White,” “Green,” “Fall Colors” — & “Brown” Non-residents may think Minnesota only has one season: winter. Locals sometimes joke that there are actually two: winter and road construction (the same people suggest that Minnesota’s state bird is the mosquito). However, in addition to marking the seasonal ebb and flow by the calendar and thermometer, I keep track...Read More
Is That Like Charlie Sheen “Winning?” John Paulson, one of the winners of the subprime crisis, is having a bad year. Investors are showing unusual patience. –“Despite Losses, Investors Stick With Paulson“; The New York Times (11/2/2011) Did you know that the housing bust has also had big “winners?” People like hedge fund titan John Paulson,...Read More
Avoiding Cliches What do you tell a client who just sold their home, but pre-signed the closing documents and therefore wasn’t at closing to collect their proceeds check? Unfortunately, it just doesn’t sound right to tell someone that “their check is in the mail.” Instead, I told them that “Edina Title had mailed the check and...Read More
No Standard Terms In theory, “rent-to-own” is a tailor-made strategy for today’s housing market, where lots of would-be Buyers have good cash flow but lousy credit, and lots of Sellers are, well, eager to sell. In practice, however, I’ve seen relatively few of these deals. My guess is that the following factors are responsible: –Although it’s...Read More
Wall Street’s Machiavellian Sharks Perhaps it’s uncharitable to complain about the piddling $12 million severance Jon Corzine was poised to gain if he had managed to sell his current firm, MF Global Holdings, over the weekend. But I’m going to complain anyway. The idea that Corzine, who single-handedly destroyed MF Global Holdings, was in a position to...Read More
