Minnesota Quit Claim Deed | Form 10.3.1
Considering that a Minnesota Quit Claim Deed (Form 10.3.1) cannot offer any protections to the Grantee, some people may wonder why it may be worth executing one. In spite of the fact that this form indeed cannot offer any guarantees about the title of the property in question, it nevertheless boasts many advantages in cases where such guarantees are not needed. Take, for instance, the case of a divorce settlement. If the settlement requires the ex-wife to transfer her their interest in a marital property to her ex-husband, a Quit Claim Deed could be an ideal because the ex-husband does not require any further confirmation of title.
Deed tax: The Minnesota Department of Revenue charges a Deed tax of 0.0033% of the property’s selling price. Deeds filed in Hennepin County and Ramsey County are also charged an additional Environmental Response Fund Tax (also called ERF Tax) at a rate of 0.0001% of the property’s selling price.
The form of the Quit Claim Deed (§ 507.07): State law outlines that the Quit Claim Deed should be in substantially the same form as provided below:
“A.B., grantor, of (here insert the place of residence), for the consideration of (here insert the consideration), conveys and quitclaims to C.D., the grantee, of (here insert the place of residence), all interest in the following described real estate in the county of …………………….., in the state of Minnesota: (here describe the premises).
Dated this …………… day of ……………., …….
Required information: Most states do not provide a Quit Claim Deed form for use. However, the Minnesota Commerce Department offers one that may be executed in Minnesota. This is the same form provided here. The following information is required in this form:
- The Grantee and Grantor’s names,
- Details of the party who drafted the form,
- The county the property is located,
- A legal description of the property,
- Indication if the property is Registered (Torrens),
- The Grantee’s residential or business address,
- A Well Disclosure and/or Well Disclosure Certificate (if applicable),
- The Grantor’s signature, and
- Proof of acknowledgment by a Notary Public.
Well Disclosure Statement: The Minnesota Department of Health Well Management Section has made it mandatory for all property sellers to write a Well Disclosure Statement that discloses the status of wells on the property. Specifically, the Statement should disclose:
- If wells are on the property: The location, status (i.e. “in use,” “not in use,” or “sealed”), and a sketch of all of the property’s wells, as well as a legal description and county of the property.
- If no wells are on the property: This should be indicated in the statement.
More information can be found on the Department of Health’s official website.
Signing requirements (§ 507.24): It is mandated by Minnesota state law that every Quit Claim Deed must bear the Grantor’s signature, along with that of the Notary Public who acknowledged the signing.
How to file a Quit Claim Deed in Minnesota (§ 507.0944): A Quit Claim Deed created in Minnesota must be registered with the County Recorder’s Office in the county where the property is found. The form may be recorded electronically, so long as the guidelines set by § 507.0943 are duly followed.
The County Recorder’s Office will charge a recording fee which must be absorbed by the party filing the form. The additional forms outlined below may also need to be filed.
Importantly, Minnesota adheres to a “race-notice recording act” (§ 507.34). To summarize the implications of this act, if a conveyance such a Quit Claim Deed is not recorded, it will be rendered void if there is a subsequent purchaser of the same property who, without having notice of such a Deed, records their conveyance with the County Recorder’s Office.
Additional forms: The following two (2) forms may also need to be completed and filed in order for the Minnesota Quit Claim Deed to be duly filed:
Electronic Certificate of Real Estate Value (eCRV): Provided by the Minnesota Department of Revenue, this form documents a property sale in the state. It must be filed when the property is sold or transferred for consideration of more than a specified amount, as follows:
- Prior to January 1, 2020: A consideration of at least one thousand dollars ($1,000).
- From January 1, 2020: A consideration of at least three thousand dollars ($3,000).
More information about the form can be found on the Department of Revenue’s website.
Well Disclosure Certificate: The Minnesota Department of Health Well Management Section requires a Well Disclosure Certificate to be attached to the Deed if there are any wells on the property. The form may also be filed online, on the Minnesota Department of Health, Well Management Section e-Well Disclosure county recorder page. The filing fee for this form is fifty dollars ($50.00).
If a Well Disclosure Certificate has already been filed and the number or status of the wells has remained the same, filing a new Certificate is not necessary. However, the following Well Disclosure Statement, which must be certified by the buyer or seller, must appear on the Deed:
“I am familiar with the property described in this instrument and I certify that the status and number of wells on the described real property have not changed since the last previously filed well disclosure certificate.”