Minnesota Quitclaim Deed Form

Last Updated: December 1, 2023 by Rukshani Lye

What is a Quitclaim Deed in Minnesota?

A Quitclaim Deed in Minnesota is a quick method of transferring property ownership. It allows the property owner (“Grantor”) to transfer their interests in the property to a new owner (“Grantee”). Quitclaim deeds are a quick way to transfer property, yet, they provide the lowest level of security among real estate deeds in Minnesota.

The most common use of quitclaim deeds is between two parties with high levels of trust, such as family members or close friends.

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What is the Difference Between a Quitclaim Deed and a Warranty Deed in Minnesota?

The main difference between a quitclaim deed and a warranty deed lies in the level of protection they offer to the Grantee on the property’s title. A quitclaim deed does not provide any promises of protection, making it faster but lacking assurance of a valid title. On the other hand, a warranty deed ensures full protection, guaranteeing the property’s freedom from ownership conflicts but involves a lengthier process to verify compliance with local, state, and federal laws.

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How Do Quitclaim Deeds Work in Minnesota?

State law ruling quitclaim deeds can be found in Minnesota Statutes, Chapter 507.  The deed has to be in writing and it should have specific language transferring the title from the Grantor to the Grantee. The Grantor must acknowledge and sign the deed before recording and delivering it to the Grantee.

Can You Prepare Your Own Quitclaim Deed in Minnesota?

A professional drafter is not legally required in Minnesota. If a drafter does prepare the document, their name and address must be included in the deed as the drafter.

Minnesota Quitclaim Deed Requirements

There are multiple requirements for formatting and content that need to be included in a quitclaim deed in Minnesota.

Formatting Requirements.

Formatting requirements for quitclaim deeds in Minnesota include:

  • The paper of the deed must be white, 20lb weight, and cannot exceed 8 1/2 x 14 inches (legal size).
  • The font must be at least 8-point, printed, typewritten, or computer-generated in black ink.
  • The first page requires a 3-inch blank top margin. Recording info goes top-right, tax certification top-left. All other margins must be ½ inch.

Content Requirements.

Content requirements for quitclaim deeds in Minnesota include:

  • The title of the document “Quitclaim Deed” must be at the top of the first page.
  • Grantor and Grantee’s full names and addresses.
  • Grantor’s marital status.
  • Name of drafter.
  • The property address.
  • Legal description of the property.
  • Property’s homestead status.
  • Transfer Date.
  • A statement confirming the tax status of the deed, including amounts owed, transfer tax, or exemptions, if any.
  • A Certificate of Real Estate Value (Online eCRV; or paper form) is required for any sale or transfer of property valued over $3,000 in MN.
  • If the property contains a well, the grantor must include a Well Disclosure Statement.

Who Signs a Quitclaim Deed in Minnesota?

In Minnesota, only the person handing over ownership of the property (Grantor) needs to sign the deed, the signature has to be stamped and authenticated by a notary.

The notarization can be completed online and signed electronically.

If the Grantor is married and the property is registered as a homestead, both spouses must sign the quitclaim deed. Alternatively, a spousal waiver of homestead rights can be signed and attached.

How to File a Quitclaim Deed in Minnesota

Here’s how to file a quitclaim deed in Minnesota:

  1. Draft the quitclaim deed following the state’s formatting and content guidelines.
  2. Ensure the Grantor’s signature is validated by a notary.
  3. If the value of the property exceeds $3,000, complete a Certificate of Real Estate Value.
    1. The Certificate of Real Estate Value may be submitted online (eCRV).
    2. Paper forms can be obtained and attached to the quitclaim deed application. Forms are available at county offices, banks, and title companies or ordered via Minnesota’s Bookstore by calling 1-800-657-3757.
  4. Complete the Well Disclosure Form.
  5. Attach a statement containing the tax status of the property.
  6. Submit the completed set of documents, along with the applicable fees, to the County Recorder’s Office.

How Much Does it Cost to File a Quitclaim Deed in Minnesota?

Basic filing fees for a quitclaim deed in Minnesota are as follows:

Recording Document – $46

State Treasury General Fund – $10.50

Recorder Technology Fund – $10

Unallocated Fund – $11

County General Fund – $14.50

In addition to the basic fees above, a Well Disclosure Statement will cost $100, and cross-referencing recorded documents cost $10.

Each county may require separate filing and recording fees.

What Taxes Are Owed on Quitclaim Deeds in Minnesota?

In Minnesota, the purchase of property using a quitclaim deed triggers two separate taxes:

  1. Mortgage Registry Tax – The MRT is 0.23% of the total sale price of the property and is generally paid by the new owner.
  2. Deed Tax (or transfer tax) – The Deed Tax is 0.33% of the total sale price of the property and is generally paid by the new owner. If the total sale price is below $3,000, the tax owed will be $1.65.

If the transfer does not involve any payment in return, then no taxes are due.

Moreover, federal taxes such as Gift Tax and Capital Gains Tax may also be applicable.

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How Long Does a Quitclaim Deed Take to be Recorded in Minnesota?

The length of time to record a quitclaim deed in Minnesota varies greatly depending on the processes, procedures, and population of each county. For example, Hennepin County takes three business days to process a deed.

What Happens After a Quitclaim Deed is Recorded in Minnesota?

In Minnesota, once the quitclaim deed is signed and filed, the county will process the document, creating a public record of the transfer of ownership.

If the deed is clear of any previous filings, a public record of the transfer of the property’s ownership will be made official.

How Long Are Quitclaim Deeds Valid For in Minnesota?

There is no expiration for quitclaim deeds in Minnesota. However, the statute of limitations for challenging a deed is 6 years from the date the deed was recorded with the county.

Sources

Quitclaim Deed Form in Other States