Minnesota Archives

April 19, 2024April 25, 2024

Risky Business? Minnesota Home Buyers Skip the Mortgage, Preferring Contracts for Deed

Land contract financing, a.k.a. the contract for deed, is a go-to method of home buying in Minnesota — especially in urban neighborhoods. These contracts allow homeowners to sell directly to buyers, bypassing the scrutiny of a mortgage lender. Each year, thousands of Minnesota buyers use them to finance their home purchases.

Federal lawmakers across the political spectrum say it’s high time for Congress to apply stricter oversight to Minnesota, and to all states.

But why? What’s going on? Would more regulation make sense? Let’s take a look.

May 26, 2023April 25, 2024

St. Paul Steps Up: City Begins Discharging Racial Exclusions From Deeds

A racial covenant is language in a real estate deed that puts homes off-limits to certain buyers. It could say the deed may not be conveyed to particular social groups, such as Black, Asian, or Jewish people.

Recently, St. Paul leadership joined a coalition to remove racial exclusions from Minnesota property deeds. Aptly, it’s called the Just Deeds Coalition.

Let’s look at the news — and its backstory.

May 22, 2017April 25, 2024

Minnesota Probate: Transfers of Real Property

Probate is the legal process of settling a person’s estate after he or she has died, including distributing the decedent’s property to those entitled to receive it. Regardless of whether the decedent left a will, all property (real and personal) owned by the decedent individually or as a tenant in common is subject to probate. Property held with a beneficiary designation (such as a transfer on death deed) or survivorship interest and property held in a trust transfers outside of probate.

June 17, 2016April 25, 2024

Guide to Affidavit of Trustee Documents in Minnesota

The affidavit of trustee for real property transactions is codified at Minn. Stat. § 501C.1014. It contains sworn statements made by a trustee regarding the trust which they are representing and their authority to enter into the transaction affecting the real property described in the affidavit.

March 4, 2015April 25, 2024

Abstract and Torrens Property (Real Estate) in Minnesota

There are two different ways of owning and indexing real property in Minnesota: Abstract Title and Torrens (Registered). Registered land is more common around the Twin Cities area, while rural counties have more Abstract land. The Torrens System has been used to promote land development, but it is still not widely used in the United States.