Minnesota Warranty Deed

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Commonly Asked Questions about Minnesota Warranty Deed

Why is it called a warranty deed?

When using a warranty deed, the grantor guarantees that the property has no outstanding title problems and that they, the current owner, have the legal right to sell to the buyer.

How does a quit claim deed work in MN?

A Minnesota quitclaim deedalso called a deed of quitclaim and releaseis a deed that transfers Minnesota real estate with no warranty of title. The person who signs a quitclaim deed transfers whatever interest he or she has in the property but makes no promises about the status of the propertys title.

What is the difference between a warranty deed and a quit claim deed in Minnesota?

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.

What are the covenants of a warranty deed in Minnesota?

A duly executed warranty deed includes the following covenants on the part of the grantor: (1) that the grantor is lawfully seized of the premises in fee simple and has good right to convey the property; (2) that the premises are free from all encumbrances; (3) the right to quiet and peaceable possession thereof; and (

What is the difference between a warranty deed and a trustee deed in Minnesota?

Special warranty deeds, also called limited warranty deeds, provide the majority of the warranties and covenants of a general warranty deed, but not the covenant of seisin, which is the warranty that the seller actually owns the land. Trustee deeds are given by trustees for property that is held in trust.

What is a warranty deed in Minnesota?

A general warranty deed is used to transfer an interest in real estate in Minnesota in most real estate transactions. A Minnesota warranty deed conveys real property with warranty covenants to the buyer.

What is required on a deed in Minnesota?

Current Owner and New Owner Information. A Minnesota deed must include the names of the current owner (the grantor) signing the deed and the new owner (the grantee) receiving title to the property. Deeds customarily state each partys address and marital status.