Finance
The Minnesota Mortgage Registry Tax (MRT) is paid when:
AA property sells
BA mortgage is recorded with the county, based on the amount of the mortgage✓ Correct
CA buyer obtains pre-approval for a loan
DMortgage payments are late
Explanation
The Minnesota Mortgage Registry Tax is imposed on mortgages recorded with the county recorder. The tax is based on the principal amount of the mortgage ($0.23 per $100 for residential mortgages). It is paid at the time of recording and is typically a buyer's closing cost.
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