Minnesota · StatutesMinnesota real estate closing laws: a checklist for transaction coordinators

Minnesota front-loads its disclosures: most are due before the buyer signs the purchase agreement. In the order a transaction meets them: the seller discloses in writing the material facts the seller knows that could adversely and significantly affect the buyer's use or enjoyment of the property, with exceptions and a two-year limit on claims (§§513.52–513.60). The radon disclosure covers known tests, records, levels and any mitigation system, with the Department of Health publication and warning statement (§144.496). The well disclosure states every known well and its status, and a well disclosure certificate or deed statement is due at closing (§103I.235). The septic disclosure states where the sewage goes, describes and maps any system and its known compliance status (§115.55). At recording, the deed tax is 0.0033 of the net consideration above $3,000 (§287.21). After a death, a transfer on death deed recorded before death passes the home to the beneficiaries, who record a county clearance certificate and an affidavit of survivorship to clear title (§507.071). For rentals, the seller has 60 days to transfer each deposit with interest to the buyer and notify the tenant, or refund it (§504B.178).