Property Ownership
A Minnesota company purchases real estate for its new headquarters. The company takes title as:
AAn individual in the company president's name
BThe corporation as a legal entity capable of owning property✓ Correct
CA limited partnership with individual shareholders named
DA trust for the benefit of shareholders
Explanation
Corporations and other legal entities in Minnesota can own real property in their own name. Corporate real estate ownership requires authorized officers to execute documents on behalf of the corporation.
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