MN SF1162

Clarifies that foreclosure eviction protections apply specifically to residential real property and dwellings, not all property types.

Requires immediate successors in interest to provide at least 90 days' written notice to vacate to tenants in foreclosed residential properties, effective no sooner than 90 days after the redemption period expires, provided rent is paid and lease terms are followed.

Allows tenants with bona fide leases extending more than 90 days beyond redemption expiration to remain until lease end, unless the successor in interest or a subsequent bona fide purchaser will occupy the unit as a primary residence.

Defines "bona fide lease" as requiring an arm's-length transaction with fair market rent (or subsidized rent through federal, state, or local programs) and excludes leases where the mortgagor or their family members are the tenant.

Applies the same protections to tenancies under Section 8 of the United States Housing Act of 1937, with an exception allowing successors to evict with 90 days' notice if they will occupy the unit as a primary residence.