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.

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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We are pleased to see that our clients continue to grow and are grateful for their loyal relationships.  In order to continue the high degree of involvement and  and expertise we bring to each transaction, we have added another closer/counsel at Guaranty. 

Kristy Warnen serves as counsel to Guaranty's team of closers reviewing transactions to ensure the interests of lenders and owners are protected and free from defects. Warnen is also a closing officer at Guaranty Commercial Title. She provides Guaranty's clients with solutions to resolve title concerns and guides parties through various types of commercial real estate transactions. She works with Guaranty's team of attorneys and closers in determining strategies that achieve the client's ownership goals.

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Guaranty has been named one of the 100 Best Places to Work by Minnesota Business. See other companies named to this prestigious list....

Wendy Ethen (click for bio) was recently featured in the Star Tribune's Real People column.

Click here to read the article.

Valerie Doleman (click for bio)  was awarded the Entrepreneurial Spirit Award by the Minnesota Commercial Real Estate Women (MNCREW).

Guaranty is proud to sponsor the Minnesota Preservation Awards and Gala Fundraiser tentatively scheduled for September 27.  For more information about the Preservation Alliance of Minnesota and their upcoming events, visit their website at www.mnpreservation.org