Real Estate Law in Minnesota

Minnesota does not require attorney involvement for closings though many parties use attorneys. Fees range $600-$1,500. Minnesota has a state deed tax of $1.65 per $500 of net consideration plus a mortgage registration tax. Property taxes average 1.08% of value. Minnesota uses both Torrens (registered land) and abstract title systems, which affects title searches. Seller disclosure required under MN Statute 513.55. The Twin Cities market is competitive with specific considerations for lakeshore and seasonal properties in northern Minnesota.