Minnesota Transfer Deed With Property

State:
Minnesota
Control #:
MN-01-82
Format:
Word; 
Rich Text
Instant download

Description

The Minnesota Transfer on Death Deed is a legal document that allows an individual, referred to as the Grantor Owner, to transfer property to a Grantee Beneficiary effective upon the Grantor's death. This deed simplifies the transfer process, allowing property to bypass probate, which can save time and costs. The form must be completed with specific information, including the legal description of the property and the names of the Grantor and Grantee. Users can utilize form fields for easy completion and may print the form for handwritten completion if preferred. It is essential to acknowledge the deed before a notarial officer to ensure its legal validity. The form contains sections that manage scenarios where the Grantee Beneficiary may predecease the Grantor, allowing for the designation of a successor beneficiary. This transfer deed is particularly useful for attorneys, partners, property owners, associates, paralegals, and legal assistants as it provides a straightforward method for handling property transfers while ensuring compliance with Minnesota laws. Professionals are advised to consult legal counsel for any complex legal issues related to the deed's use.
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  • Preview Transfer on Death Deed - Individual to Individual
  • Preview Transfer on Death Deed - Individual to Individual
  • Preview Transfer on Death Deed - Individual to Individual
  • Preview Transfer on Death Deed - Individual to Individual
  • Preview Transfer on Death Deed - Individual to Individual

How to fill out Minnesota Transfer On Death Deed - Individual To Individual?

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FAQ

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.

Transfers of real property must be in writing and notarized. Deeds should be recorded in the county where the property is located.

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.

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.

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 ...

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Minnesota Transfer Deed With Property