A Minnesota deed is a legal form by which one party (grantor/seller) transfers ownership of real property to another party (grantee/buyer). Deeds commonly convey warranties to protect the grantee against potential title defects, such as unpaid property tax or unresolved liens. A warranty deed affords the most title protection by ensuring the grantor will be held liable for any encumbrances. Under a quit claim deed, the grantor transfers property without providing assurances, therefore putting the grantee at risk in the event of title and ownership complications.
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Types (5)
Deed of Trust – Used when a buyer takes out a loan to purchase property. The deed transfers ownership to a trustee until the debt is paid.
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General Warranty Deed – Fully protects the buyer against any title defects (e.g., claims, liens) discovered after purchasing property.
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Limited Warranty Deed – Protects the buyer against defects from the seller’s period of ownership only (i.e., no warranties for past owners).
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Quit Claim Deed – A property conveyance document that provides no warranties or title assurances to the grantee.
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Transfer on Death Deed – Allows the grantor to name a beneficiary to receive property upon the grantor’s death.
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Laws & Requirements
- Statutes: Ch. 507 (Recording and Filing Conveyances)
- Formatting: §§ 507.091, 507.092, 507.093
- Signing Requirements (§ 507.24(Subd. 2)(a)): Notary Public
- Where to Record: County Recorder
- Recording Fees (§ 357.18(Subd. 1)(1)): $46 (no page limit)
- Forms:
- Electronic Certificate of Real Estate Value: Required for properties sold for more than $3,000.
- Well Disclosure Certificate: Required if there are wells on the property.
- Condition of Property (§ 513.55): Relays the property’s condition, including any needed repairs, to potential buyers.
- Methamphetamines (§ 152.0275 Subd. 2 (m)): Required if methamphetamine production occurred on the premises.
- Radon (§ 144.498 Subd. 3): The seller must complete this form to disclose any known radon concentrations and testing. Furthermore, the document issues a warning that the buyer should conduct their own radon testing to ensure their safety.
- Sewage Treatment System (§ 115.55 Subd. 6): Property sellers must disclose to prospective buyers how sewage is handled on the premises.
- Wetlands, Shorelands, and Flood Plain (§ 103F.111 Subd. 4, § 103F.205 Subd. 4, § 103G.005 Subd. 19 (a)): This form must be provided to buyers if the property being sold is located near wetlands, shorelands, or flood plains.
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