Estate Planning

Has your property been in the family for generations? Do you know whose name the property is in? Would you like to do some estate planning so the property will pass on to the next generation correctly?

If you answered “Yes” to any of these questions, or have other questions, contact our office to speak with an experienced title agent today.

We have help hundreds of individuals, lenders, attorneys, and agents get a clear picture of the title and lien status of a property. We will Research Your Title and advise you about our results, normally within 3 business days.

Ownership & Encumbrance Report:  This report consists of several searches in one: Deed Search, Mortgage/Assignment Search, Judgment/Lien Search, UCC Search and Tax Search. Together, they provide a clear picture of the current status of the property.
Deed Search: We’ll search from the prior owner forward and show all deeds in chain of title, not stopping at a quit claim deed, but going back to a good vesting deed.
Mortgage Search: We’ll show all open mortgages encumbering property from the prior and current owners and list their assignments, modifications and related documents.
Judgment Search:
Lien Search:
We will perform a 20 year name search on all names in chain of title and show all unreleased judgments and liens attaching to property.
UCC Search:
Financing Statement Search:
We can show (if requested) UCC’s evidencing a lenders security interest in the owners personal property.
Tax Search: We will show both current and delinquent tax information.

More Information on Title in Minnesota

A deed is a legal document that transfers the title of a property from one individual to another. This document helps to protect the interest of the buyers and sellers of a property. A deed discloses any issues with the property, which helps to guarantee a reliable and fair agreement.

Warranty Deed/ Quit Claim Deed

A deed is a written instrument that transfers the title of property from one person to another. There are many different types of deeds. Generally, in Minnesota, title is transferred by a general warranty deed. A general warranty deed provides the greatest protection to the purchaser because the seller pledges or warrants that he or she legally owns the property and that there are no outstanding liens, mortgages, or other encumbrances against it. A warranty deed is also a guaranty of title, which means that the seller may be held liable for damages if the buyer discovers that the title is defective. A warranty deed is no substitute for title insurance, however, as a warranty from a seller who later dies or goes bankrupt may have little value.

Another type of deed used is a quitclaim deed. A quitclaim deed relinquishes whatever interest, if any, the seller may have in the property to the buyer. A quitclaim deed gives the buyer the least protection of any deed. If the seller is the sole owner of the property, the quitclaim deed is enough to transfer title, but the buyer takes a risk by accepting a quitclaim deed because it offers the buyer no guarantee that the title is valid. Quitclaim deeds are used frequently during the property settlement phase of a marriage dissolution.

Recording

In Minnesota, real estate records are kept in each county. Owners and parties with real estate interests are required to file, in the county, all documents affecting their interest in property in order to give public notice of the interest. Titles in Minnesota may be registered under the abstract system or the Torrens system. Abstract records go back hundreds of years and an abstract of title is a record of all the entries for that property. Torrens or registered property is much simpler, more modern, and more efficient. Instead of a thick abstract of title, Torrens property has a certificate of title.

When must spouses sign real estate documents?
The general rule, set forth in Minn. Stat. §507.02, is that the homestead may not be conveyed — again, regardless of whether the conveyance is of a fee interest or some lesser interest , such as a mortgage, life estate, etc. — unless signatures are given by both the owner and his or her spouse.  The common rule you will hear real estate agents and attorneys in Minnesota state: “One signature to buy, two signatures to sell.”

What is an Abstract of Title?

An abstract of title is a summary of the public records relating to a title for a certain piece of land.  Usually a professional reviews the abstract of title to make sure it is free from defects or potential problem causing issues.  It must be reviewed before buying a piece of land in order to ensure a clean, insurable, and safe real estate investment.   If an abstract is unavailable, a forty-year record search is completed to ensure all title defects are clear.