Which deed is most commonly used for transferring real estate interests in Minnesota?

The general warranty deed is the most commonly used instrument for transferring real estate interests in Minnesota because it provides the highest level of protection for the buyer. This type of deed guarantees that the seller holds clear title to the property and has the right to sell it. It includes several covenants that protect the buyer from various potential issues, such as claims against the property or defects in the title that may arise from the seller's ownership.

With a general warranty deed, the seller asserts that they will defend the buyer against any future claims on the property and will correct any title deficiencies that may occur, offering peace of mind to the buyer. This is particularly important in real estate transactions, as it reassures buyers that they are receiving a legitimate and unencumbered title.

In contrast, other types of deeds, such as the quitclaim deed, provide less security. A quitclaim deed transfers whatever interest the seller has in the property without making any warranties about the title, which means the buyer could be left with unexpected claims or liens on the property. Special warranty deeds offer limited protection only for the time the seller owned the property, rather than safeguarding against issues that may have existed before that ownership. A property exchange deed, while relevant in some contexts, is not