Creates a new section, Minn. Stat. 287.20, to add, move, or modify definitions for the deed tax. Modified this definition to also encompass limited liability entities and partnerships. These entities will be able to convey property in a consolidation or merger without paying the deed tax. Moved this definition from Minn. Stat.
Definition clarifies the term.
This definition is needed because of Minn. Stat. It is intended to encompass both natural persons and the numerous forms of business organizations allowed under the current statutes. This technical definition eliminates redundant references to recording or registering documents that affect real property. Modified this definition to also encompass limited liability entities and partnerships. These entities will be able to convey property in a reorganization without paying the deed tax.