Lake County Trustee Deed Individual Form

Additional Minnesota and Lake County documents included at no extra charge:

Where to Record Your Documents

---

Cities and Jurisdictions in Lake County

Properties in any of these areas use Lake County forms:

• Beaver Bay
• Finland
• Isabella
• Knife River
• Silver Bay
• Two Harbors

---

What's in a Minnesota Trustee's Deed?

Minnesota allows for two main types of trustees deeds: one between individuals, and one for use by business entities. The primary differences between the two forms are that the deed intended for businesses contains details about the corporate entity and the laws under which it was formed, and a corporate notary acknowledgement, while the form for individuals does not require that information. This article focuses on the trustee's deed for individuals.

A trustee's deed conveys title to real property held in a non-testamentary trust. The deed is named for the executing trustee, unlike other deed forms, which are named for the warranties of title they contain. Trustees are authorized to sell property under Minn. Stat. 501C.0816.

In a trust arrangement, the trustee holds legal title to property conveyed to the trust by the settlor, for the benefit of the trust's beneficiaries. A beneficiary is someone with a present or future interest in the trust (Minn. Stat. 501C. 0103). The settlor establishes the provisions of the trust, including the designation of a trustee and a trust beneficiary, in the trust instrument, which typically is not recorded.

In Minnesota, the trustee's deed is a modified quitclaim deed, containing the granting language "convey and quitclaim." A quitclaim deed merely grants "all right, title, and interest of the grantor in the premises described" to the grantee, and contains no warranty of title (Minn. Stat. 707.07).

The deed names the trustee and the trust on behalf of which the trustee is authorized to act. As with all other forms of conveyance, the deed requires the name, vesting information, and address of the grantee. In addition, the deed recites the full legal description of the premises conveyed, and indicates whether the deed is to be recorded in the abstract or Torrens system (the Office of the Recorder for the county in which the property is situated handles recording for both systems).

In a nutshell, the Torrens system is a system of recording whereby the state guarantees the title through a more rigorous certification process; conveyances submitted in the abstract system meeting basic recording requirements will be recorded, but the title is not guaranteed.

Finally, all conveyances in Minnesota need to contain the drafter's information, and an address to which property tax statements can be sent.

Minnesota statutes require an Electronic Certificate of Real Value (eCRV) to accompany deeds with a consideration of $1,000 or more (Min. Stat. 272.115). The certificate is submitted online through the Department of Revenue. For transfers requiring an eCRV, the electronic certificate number must be reflected on the first page of the documents. Considerations of $500 or less qualify for the minimum deed tax. Because the eCRV contains more specific information for a majority of documents, the consideration statement reflected on the face of the deed is typically generic.

Pursuant to Minn. Stat. 103I.235, sellers of real property must submit a well disclosure certificate, along with the $50 well disclosure certificate fee, before agreeing to a transfer. Subd. 1(c) of that statute explains that the certificate is unnecessary "if the seller does not know of any wells on the property" and includes a statement to that effect on the deed. A deed may also state that the status of wells on the property has not changed since the previously filed certificate. Finally, recite the electronic well disclosure certificate number if relevant to the property.

All acting trustees must sign the deed in the presence of a notary public or other authorized officer before submitting the deed for recording at the county level. A certificate of trust and/or affidavit of trustee may be required alongside the trustee's deed.

Each situation is unique, so contact an attorney with any questions about trustee's deeds, trusts, and directions relating specifically to your situation.

(Minnesota Trustee Deed Individual Package includes form, guidelines, and completed example)

Important: Your property must be located in Lake County to use these forms. Documents should be recorded at the office below.

This Trustee Deed Individual meets all recording requirements specific to Lake County.

Our Promise

The documents you receive here are guaranteed to meet or exceed the applicable Lake County recording format requirements. If there is a rejection caused by our formatting, we will correct the issue or refund your payment. This guarantee applies to document formatting only and does not extend to information entered by the user, the selection of the form, or the legal effect of the completed document.

Save Time and Money

Get your Lake County Trustee Deed Individual form done right the first time with Deeds.com Uniform Conveyancing Blanks. At Deeds.com, we understand that your time and money are valuable resources, and we don't want you to face a penalty fee or rejection imposed by a county recorder for submitting nonstandard documents. We constantly review and update our forms to meet rapidly changing state and county recording requirements for roughly 3,500 counties and local jurisdictions.

4.8 out of 5 - ( 4737 Reviews )