Property Ownership
In Minnesota, what is the Marketable Title Act designed to do?
AGuarantee the purchase price of all residential properties
BSimplify title examination by limiting the search period to 40 years, clearing claims older than 40 years✓ Correct
CRequire all properties to be platted
DMandate title insurance for all transactions
Explanation
Minnesota's Marketable Title Act simplifies title examination by extinguishing claims, interests, and encumbrances that have not been asserted within the last 40 years. This limits how far back a title search must go and helps clear stale title defects.
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