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Commonly Asked Questions about Minnesota Real Estate Legal Documents

Legal descriptions appear in deeds, mortgages, and other documents that affect the property. Most legal descriptions include the name of the county in which the property is located. Each legal description identifies one and only one piece of property in the county in which it is used.
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.
A MN purchase agreement addendum refers to a document that is added to a Minnesota purchase agreement to modify or supplement its terms and conditions. It is used when the buyer or seller wants to make changes or additions to the original agreement after it has been signed.
If you lose or misplace the original deed, you may obtain a certified copy from the County Recorder or Registrar of Titles in the county where the property is located. A certified copy of the deed may be recorded in any county with the same force and effect that the original deed would have if it were so recorded.
How Do I Transfer Property to a Family Member Tax-Free? Leave the House in Your Will. Gift the House. Sell Your Home. Put the House in a Trust. Additional Support and Resources When Transferring Ownership of Property From Parent to Child.
Unlike a warranty deed, which provides guarantees about the propertys title, a quit claim deed makes no warranties or guarantees. It simply transfers whatever interest the grantor has, if any, to the grantee.
Family members can transfer property to one another without estate tax penalties by putting the property into a trust. When placed into an irrevocable trust, the property is no longer considered part of your estate after you die.
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.