Guaranty is pleased to have provided title, closing, and construction disbursement services to
Oaks Properties for their development of Oaks Station Place at 46th and Hiawatha on the LRT. Oaks Station Place, scheduled to open in December, will offer 104 market-rate apartments and about 8,400 square feet of retail space at 3550 46th St. East.
Congratulations to New Perspective Senior Living
on the ground breaking of The Lighthouse of Sun Prairie in Sun Prairie, Wisconsin. New Perspective Senior Living is based in Eden Prairie and manages senior living facilities throughout the Midwest.
Welcome MidCountry Bank
to Downtown Minneapolis in their new location at 733 Marquette Avenue.
IS YOUR CONTRACT EXECUTED BY AN AUTHORIZED PARTY?
Beth Sheehan/Co-counsel & Closer
When conducting real estate transactions with business entitles such as corporations, partnerships, and limited liability companies ("LLC"), make sure all contracts are signed by individuals authorized to act on behalf of the entity; otherwise, the contract maybe unenforceable. Start by identifying the type of entity you are dealing with. The contract should state each party's full legal name, the type of entity and state of formation. Check with the Secretary of State's office to verify you are dealing with a validly existing entity.
Next review the entity's organizational documents. Typically corporations have shareholders, directors and officers. Shareholders elect a board of directors who control corporate operations. Officers are appointed to conduct day to day business operations. Review the corporate bylaws and shareholder agreement to determine who is authorized to act on behalf of the corporation, usually the President. An LLC can have officers/managers, governors/directors and members. Review the member control agreement and operating agreement to determine who has authority to act on behalf of the LLC, usually the Chief Manager or President. General and limited partnerships are typically operated by the general partners. Review the partnership agreement to determine if there are restrictions placed on the general partners and which general partners are authorized to act on behalf of the partnership. For a trust, review the trust agreement or certificate of trust to determine the authorized trustee.
Also obtain a copy of the resolution from the entity's board of directors (corporations), members/governors (LLC) or the general partners (partnerships) which approves the contract and identifies which individuals are authorized to execute documents on behalf of the entity.
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Certified Women's Business Enterprise
Women's Business Enterprise National Council
State of Minnesota Small Business Procurement Program
We are classified as a Women Owned Business
Small and Woman Business Enterprise
Ramsey County, Hennepin County and the City of Saint Paul Central Certification Program