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MN SF2184
Bill
Status
4/20/2012
Primary Sponsor
Warren Limmer
Click for details
AI Summary
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Amends Minnesota Statutes section 508.58 to add procedures for examiner of titles directives related to time share interest foreclosures and contract cancellations.
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Removes previous language allowing examiners to direct registrars to show cancellation of time share interest contracts and relocates this authority to a new subdivision 3.
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Establishes new subdivision 4 allowing examiners to issue directives for new certificates of title in foreclosed time share interests limited to not more than seven days annually, subject to county board authorization.
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Requires applicants for time share foreclosure directives to submit evidence of legal sufficiency, with examiners empowered to determine adequacy and issue new certificates of title or direct applicants to proceed through standard foreclosure procedures.
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Specifies that examiners' directives must identify which instruments the registrar shall omit from new certificates of title resulting from foreclosures or contract cancellations.
Legislative Description
Registered lands time share interests registration and examiner of titles directives provisions modifications
Last Action
Secretary of State Chapter 178 04/18/12
4/20/2012