Property Ownership
In Minnesota, the 'Statute of Limitations' for real estate claims means that:
AAll real estate transactions must be completed within 60 days
BLegal claims must be filed within specified time periods after the cause of action arises or the claim is barred✓ Correct
CReal estate licenses expire after a set period without renewal
DProperty taxes must be paid within a year of assessment
Explanation
The Statute of Limitations sets deadlines for filing lawsuits. In Minnesota, different types of real estate claims have different limitations periods—typically 2-6 years depending on the type of claim.
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