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Commonly Asked Questions about Minnesota Property Transfer Forms

The deed tax is a transfer tax. It is imposed on the value of real property transferred. The deed tax rate is 0.33 percent of net consideration (i.e., the price paid for the real property).
A gift deed, or deed of gift, is a legal document voluntarily transferring title to real property from one party (the grantor or donor) to another (the grantee or donee). A gift deed typically transfers real property between family or close friends.
The deed tax rate in Minnesota is 0.33% of the net consideration, i.e. the price that was paid for the property in question. So for the average home that costs $340,688, you would pay $1,124 in transfer taxes.
I understand you are concerned about adding your wife to a deed. Let me see if I can help. All you would need is a quit claim deed. You would deed a portion of your ownership to your spouse and then you would file the deed with the county in which the property is located.
A Minnesota Quitclaim Deed does not provide any of the statutory covenants of title which are provided by a Minnesota Warranty Deed. In addition, the interest conveyed by the grantor in a Minnesota Quitclaim Deed: is limited to that which the grantor held at the time of execution of the deed, and.