(DOWNLOAD) "Farm Credit Bank St. Paul v. David Michels" by Court of Appeals of Minnesota " eBook PDF Kindle ePub Free
eBook details
- Title: Farm Credit Bank St. Paul v. David Michels
- Author : Court of Appeals of Minnesota
- Release Date : January 08, 1994
- Genre: Law,Books,Professional & Technical,
- Pages : * pages
- Size : 62 KB
Description
An entity that acquires fee title to property that is encumbered with a mortgage is an ""owner"" within the meaning of the right of first refusal statute, Minn. Stat. § 500.24, subd. 6(a) (1992). SCHUMACHER, Judge Appellants Farm Credit Bank of St. Paul (Farm Credit) and Harlan and Bonita Olson argue that the district court erred in (1) determining that respondents David and Rita Michels were entitled to a right of first refusal under Minn. Stat. § 500.24, subd. 6, (2) determining that the Michels did not have to demonstrate they had the financial ability to exercise the statutory right of first refusal at the time the right allegedly should have been offered to them, and (3) determining that damages should be measured as the difference between the right of first refusal price and the fair market value of the property on the date that the Michels tendered the right of first refusal price. We reverse.