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O0 INFORMATION MEMO LMINNESOTA Purchase and Sale of Real Property CITIES Understand the statutory authority of cities to acquire and dispose of real estate, including by sales, purchases, and alternatives such as gifts, leases, dedication, contract for deed, lease purchase and others. Be alert to common issues in transactions such as environmental considerations, deed restrictions, trust land,permissions to buy and sell, and more. RELEVANT LINKS: I. Acquisition of land Minn.Stat.§412.211. All statutory cities have authority to acquire real estate for various purposes. These cities may acquire real property either within or outside their corporate limits. Statutory cities may acquire real estate in any of the following ways: • Purchase. A city can acquire the title to land by simply buying it. • Gifts of land. A city can accept gifts of land. • Dedication. A city can require developers to dedicate land for parks, streets, and utility purposes as a condition of subdivision approval. • Devise.A city may receive real estate in a person's will. • Eminent domain(condemnation). This is a required sale of land to a Minn.Stat.§465.29. government entity for public use or public purpose. • Tax-Forfeiture. A city may acquire tax-forfeited land through outright purchase for the land's appraised value or may acquire the land at no cost if the city agrees to use the land for a public purpose. Most real estate is acquired through an outright purchase of all right and title to the land. This type of purchase is known as a purchase of fee simple rights and is represented by a deed document. However, cities can also acquire other types of interest in land using: Minn.Stat.e 412.221,sued. • Contract for deed. A city can purchase real property using a contract for z.see Part I-t-contracts for deed. deed if certain conditions are met. • Lease-purchase. A city can rent real estate with the option to buy. • Leases. A city can acquire an interest in real estate through rental agreements. • Easements. A city often acquires easements over property for such things as streets and utilities. Sometimes these easements are acquired by purchase or condemnation; other times the owner of the property may give them to the city. This material is provided as general information and is not a substitute for legal advice.Consult your attorney for advice concerning specific situations. 145 University Ave.West www.lmc.org 1/22/2015 Saint Paul,MN 55103-2044 (651)281-1200 or(800)925-1122 ©2015 All Rights Reserved