Escrow & Title
In Minnesota, a 'marketable title' is one that:
AHas the highest possible sale price
BIs free from reasonable doubt about ownership, with no undisclosed encumbrances that would affect a reasonable buyer's willingness to purchase✓ Correct
CHas been insured by a title company
DHas been owned by the same family for more than 20 years
Explanation
Marketable title in Minnesota is title that is sufficiently free from defects, liens, and encumbrances that a reasonable buyer would be willing to accept it without fear of litigation. Most purchase agreements contain a condition requiring the seller to deliver marketable title at closing.
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