Section 287.222 — Transfer To Obtain Financing.
287.222 TRANSFER TO OBTAIN FINANCING. The deed tax is $1.65 on a deed or other instrument that transfers real property if the transfer is (1) to a person who is a builder or contractor, (2) intended to be temporary, and (3) done solely to enable the builder or contractor to obtain financing to build an […]
Section 287.223 — Hennepin And Ramsey Counties.
287.223 HENNEPIN AND RAMSEY COUNTIES. For properties located in Hennepin and Ramsey Counties, the county may impose an additional deed tax as defined in sections 383A.80 and 383B.80. History: 2013 c 143 art 4 s 27
Section 287.23 — Real Property Outside County Or State.
287.23 REAL PROPERTY OUTSIDE COUNTY OR STATE. Subdivision 1. Real property outside county. If any taxable deed or instrument describes any real property located in more than one county in this state, the total tax must be paid to the treasurer of the county where the document is first presented for recording, and the payment […]
Section 287.20 — Definitions.
287.20 DEFINITIONS. Subdivision 1. Words, terms, and phrases. Unless the language or context clearly indicates that a different meaning is intended, the following words, terms, and phrases, for the purposes of sections 287.21 to 287.31, have the meanings given to them in this section. Subd. 2. Consideration. (a) “Consideration” means generally the total monetary value […]
Section 287.21 — Imposition Of Tax; Determination Of Tax.
287.21 IMPOSITION OF TAX; DETERMINATION OF TAX. Subdivision 1. Determination of tax. (a) A tax is imposed on each deed or instrument by which any real property in this state is granted, assigned, transferred, or otherwise conveyed. The tax applies against the net consideration. For purposes of the tax, the conversion of a corporation to […]