Net Operating Income divided by Purchase Price. Used to evaluate investment property returns. Higher cap rate = higher risk + higher potential return.

Net Operating Income. Gross rental income minus operating expenses (excluding mortgage). The key metric for property investment analysis.

Gross Rent Multiplier. Purchase Price divided by Gross Annual Rent. Quick screening tool for rental properties. Lower GRM = better value.

Transfers whatever interest the grantor has in a property, with no warranties. Commonly used between family members or to clear title defects.

Provides the greatest protection to the buyer. Includes covenants of seisin, quiet enjoyment, further assurance, and warranty forever.

Borrower holds title; lender holds a lien against the property as security. Minnesota is a lien theory state.

When one agent represents both buyer and seller in a transaction. Requires written consent from both parties. Legal in Minnesota with disclosure.

MN: Protects primary residence from creditors. Urban limit: $450,000. Rural limit: $1,500,000 (160 acres max).

Dividing expenses proportionally between buyer and seller at closing based on the date of ownership transfer. Common for taxes, HOA, insurance.

A right to use another person's land for a specific purpose. Runs with the land (appurtenant) or is personal (in gross). Cannot be revoked easily.