MN HF2233

Limits residential lease terms for properties in foreclosure to a maximum of two months or until the contract cancellation/redemption period ends, unless specific conditions are met (contract reinstated, mortgage cured, mortgage satisfied, property redeemed, or receiver appointed).

Requires landlords to notify prospective tenants in writing of the property's foreclosure status and the cancellation or redemption period end date, and inform tenants of their right to continued utility services if the landlord defaults on utility payments.

Establishes a two-year moratorium on mortgage foreclosures for borrowers and tenants who serve notice of right to stay, allowing them to remain in possession and make affordable monthly payments (the lower of current rent/original mortgage payment or 41 percent of documented monthly gross income).

Grants tenants of foreclosed property specific rights including maintenance as rental property, lease renewal offers, affordable rent limits, and protection from eviction without cause as defined in the statute.

Specifies that the foreclosure stay can be dissolved by court order if the borrower or tenant fails to meet maintenance requirements or other just cause exists, including lease violations, nuisance, illegal use, or refusal of reasonable property access.