MN HF2763

Amends Minnesota Statutes section 508.58 to establish procedures for registering and foreclosing time share interests in registered land.

Removes previous language regarding cancellation of time share contracts and relocates it to a new subdivision 3, which allows the examiner of titles to show by memorial when a time share contract has been terminated in accordance with chapter 559.

Creates new subdivision 4 establishing procedures for foreclosure of time share interests limited to properties consisting of not more than seven days per year and located in counties that have authorized such procedures by board resolution.

Allows persons who have purchased a time share interest through foreclosure to apply to the examiner of titles for a new certificate of title after the redemption period expires, without requiring a court action.

Requires the examiner to determine legal sufficiency of the foreclosure based on submitted evidence and may issue a directive to the registrar to issue a new certificate, or the applicant may proceed under existing subdivision 1 procedures.