Halloween is here and that has us in a spooky mood! It also got us thinking about haunted houses, haunted properties and whether or not you’d need to disclose that your property is haunted if and when you decide to sell. Interestingly, states differ on what does and doesn’t need to be disclosed when it comes to matters of a paranormal variety, so you’ll have to look into your local laws if you’re considering selling your spooky property. But if you’re hoping to sell haunted property in Minnesota, we’ve got you covered. Below, we explain what you need to disclose if you’re hoping to sell property that you believe is haunted in Minnesota.
Do I Have To Disclose Paranormal Activity In Minnesota?
Whether or not ghosts are real is up for debate and personal opinion, but what’s not up for debate is the fact that paranormal activity on a property could impact the value of the land. Many would say that it would hurt a property’s value, but in the right situation, you may find that the possibility of purchasing haunted property actually increases its value.
Whether that’s a good or bad thing depends on your situation as the buyer or seller, but to get back to the point of this blog, is paranormal activity something that you need to disclose to a potential buyer ahead of a sale? Minnesota law doesn’t think so. According to Minnesota Statute 513.36, Subd. 1:
- A seller is not required to disclose that a property “was the site of perceived paranormal activity.”
The statute goes on to say that suicides, accidental deaths and natural deaths that occurred on the property do not need to be disclosed to a prospective buyer during the process of the sale. So even if you are absolutely convinced that your Minnesota property is haunted, you are not obligated to disclose this information to the buyer.
However, you are legally required to disclose that a homicide has taken place on your property, so if the ghost is the vengeful spirit of an individual who had their life unjustly cut short, you will need to note that when selling the property. You can’t be held liable for not sharing this information if you were unaware that a homicide took place, especially if you were not informed when you bought the property, but if you are aware or there is a record of homicide on the property, it needs to be disclosed to prospective buyers.
If you’re hoping to buy or sell haunted or unhaunted commercial property in Minnesota, we hope you’ll connect with the team at Commercial Partners. We can ensure the title is clean and the transaction runs smoothly from start to finish. We may not be able to control any paranormal entities, but for real world issues you may run into during your commercial sale or acquisition, we’ve got your back. Give the team at Commercial Partners a call today at (612) 337-2470.