Categories ArchivesAngie J. Schneiderman Blog

SHINING THE SPOTLIGHT ON ARBITRATION standard

On July 10, 2017, the Consumer Financial Protection Bureau (CFPB) finalized a new rule banning arbitration agreements that prevent class action suits against banks and other financial institutions.  The rule will be effective 60 days after its publication in the Federal Register and is expected to spark legal and political fights. Knowing arbitration may be taking a spotlight in the news, we thought an overview of the topic may be helpful. WHAT IS ARBITRATION? Arbitration is a type of Alternative Dispute Resolution (ADR) that takes place out of court by submitting claims for consideration to a panel of one or more arbitrators.  Arbitrators are not judges; however, they do review evidence submitted by the parties that will usually include a ...

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Four Things To Know About Agricultural Leases standard

A farm lease can be either oral or written. In Iowa, an oral lease for the tenancy of a farm is enforceable for up to one year.  While it seems that an oral lease for the tenancy of a farm is the easier route to take, and perhaps the oral lease option may have the least expensive up-front cost, consider that oral lease agreements can end up being much more expensive in the long run if a dispute arises due to the need to litigate the details of the oral lease. A written farm lease is the alternative that the lawyers at MHMJ&M recommend that their Clients take.  A well written lease will ensure that all parties to the lease ...

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FILING DEADLINES FOR THE IOWA BUSINESS PROPERTY TAX CREDIT ARE APPROACHING standard

The Iowa Code provides for a property tax credit for certain qualifying commercial, industrial and railroad properties.  The credit is granted per “property unit” with property units consisting of contiguous parcels of the same classification that are owned by the same person and operated for a common use and purpose. If the property tax credit has already been claimed, it will continue  to apply to the property unit for successive years so long as the property unit continues to satisfy the requirements of the credit.  However, if the property unit is sold or transferred, the new owner must refile in order to claim the credit. The current deadline for applying for the Iowa Business Property Tax Credit is March 15, 2016 ...

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UPCOMING OPPORTUNITIES EXIST FOR SOUTH DAKOTANS TO REDUCE THEIR REAL ESTATE TAX LIABILITY standard

  Most people don’t think about their real estate tax liabilities until the County Treasurer issues a bill for taxes due.  By then, taxpayers have already missed out on the opportunity to address how much is owed as that chance occurs when the County sends out notices of assessment.  Assessment notices detail the value of your property as determined by the Director of Equalization. The amount of tax you pay on real estate is based on a relatively simple formula: Assessed Value     X     Tax Levy %  =  Amount of Tax Due The only aspect of this formula a taxpayer can control is to ensure that the assessed value of their real estate is correct.  In South ...

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