Loading chat...
MN HF2188
Bill
Status
5/16/2014
Primary Sponsor
Melissa Hortman
Click for details
AI Summary
-
Replaces gender-specific language ("husband and wife") with gender-neutral terminology ("spouses who are married to each other") throughout Minnesota real estate statutes sections 287.20, 358.14, and 507.02.
-
Expands the definition of "property" and "interest in real property" in transfer on death deeds to explicitly include mortgages, deeds of trust, security interests, judgments, tax liens, contracts for deed, and other liens or interests in real property.
-
Clarifies that spouses who are neither grantor owners nor owners but join in execution of or consent to a transfer on death deed are conclusively relieved of statutory and marital interests in the transferred property upon the transfer becoming effective.
-
Modifies transfer on death deed provisions to require spousal joinder or consent when required by section 507.02 for joint tenant properties, and removes the requirement that revocation must be executed by the last surviving grantor owner in joint tenancy situations.
-
Changes mortgage redemption period language from "year" to "period allowed by law" and clarifies certificate recording deadlines and procedures in section 580.26.
Legislative Description
Spousal real estate ownership and mortgage redemption period clarifying and conforming changes made, and transfer on death deeds modified.
Last Action
Secretary of State Chapter 266
5/16/2014