Deed Tax Personal Property

If the real property being conveyed includes a one-, two-, or three-unit residential structure, the value of the personal property included in the sale price is subject to Deed Tax. (See Minnesota Statutes 287.20, subdivision 2(c))

If the real property being conveyed is not a one, two, or three-unit residential structure, the value of any personal property included in the sales price can be subtracted prior to calculating Deed Tax.

Personal property is movable property that is not attached to land.

• Tangible - movable equipment and machinery, furniture, cars, trade fixtures, etc.
• Intangible – goodwill, non-compete clauses, patents, copyrights, etc.

Real property is land and anything permanently attached to the land or generally transferred with the land.

• Bare land
• Buildings
• Fences
• Telephone poles