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Minnesota Deed Transfer Questionnaire

Category:
Real Estate - Deeds - Questionnaires
State:
Multi-State
Control #:
US-Q1010
Format:
Word; 
Rich Text
Instant download
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Description

This form addresses important considerations that may effect the legal rights and obligations of the parties in a transferring real property with a deed. This questionnaire enables those seeking legal help to effectively identify and prepare their issues and problems. Thorough advance preparation enhances the attorney's case evaluation and can significantly reduce costs associated with case preparation.



This questionnaire may also be used by an attorney as an important information gathering and issue identification tool when forming an attorney-client relationship with a new client. This form helps ensure thorough case preparation and effective evaluation of a new client's needs. It may be used by an attorney or new client to save on attorney fees related to initial interviews.


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FAQ

$495 must be paid when the deed is recorded. Who is responsible for paying the tax? The mortgagor (borrower) is liable for the MRT, while the seller is liable for the deed tax.

A Minnesota quitclaim deed?also called a deed of quitclaim and release?is 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 property's title.

A grant deed, also known as a special or limited warranty deed, is a legal document used to transfer real estate between a previous owner (the grantor) and a new owner (the grantee).

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.

As with any conveyance of real estate, a gift deed requires a complete legal description of the parcel. Include all relevant documents, affidavits, forms, and fees with the along with the deed for recording as well. When claiming a minimum deed tax or an exemption, include Deed Tax Form 1 (287.21).

Minnesota Deed Transfer 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. It requires an acknowledgement of the grantor's signature.

Recorder ? Registrar of Titles Property owners may request a free electronic copy of their deed and certificate of title without the need for a paid subscription by emailing us at recordsrequest@hennepin.us.

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