This form is a Minnesota Transfer on Death Deed from an individual Grantor Owner to an individual Grantee Beneficiary. The Grantor Owner retains the right to sell, encumber, mortgage or otherwise impair the interest Grantee Beneficiary might receive in the future, without joinder or notice to Grantee Beneficiary. Upon the death of the Grantor Owner, assuming the property has not been transferred by subsequent deed to others, and the deed was recorded properly before Grantor Owners death, the property shall vest in the Grantee Beneficiary. The form also provides the option to name a successor beneficiary in the event the Grantee Beneficiary predeceases the Owner Grantor. This deed complies with all state statutory laws.
Minnesota Transfer Deed Form For Spouse
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State:
Minnesota
Control #:
MN-01-82
Format:
Word;
Rich Text
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How to fill out Minnesota Transfer On Death Deed - Individual To Individual?
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FAQ
Gift Deed for Real Estate Located in Minnesota. 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.
A transfer on death deed may be executed by a duly appointed attorney-in-fact pursuant to a power of attorney which grants the attorney-in-fact the authority to execute deeds.
To get title to the property after your death, the beneficiary must record the following documents in the county where the property is located: (1) an affidavit of identity and survivorship, (2) a certified death certificate, and (3) a clearance certificate (showing that the county will not seek reimbursement for ...
Minnesota's deed tax is calculated based on the consideration for the transfer. The rate for most transfers is 0.33 percent of the purchase price. Minnesota law authorizes Hennepin and Ramsey Counties to charge an additional . 01 percent of consideration.
Disadvantages of a Transfer on Death Deed For example, your property will be subject to probate court if your beneficiary predeceases you and you lack an alternate estate plan. Another disadvantage is if you co-own property under a joint tenancy.