Loading chat...

MN SF2003

Bill

Status

Introduced

2/27/2014

Primary Sponsor

Scott Newman

Click for details

Origin

Senate

88th Legislature 2013-2014

AI Summary

  • Changes references to "husband and wife" to "spouses who are married to each other" throughout Minnesota real property statutes for gender-neutral language and clarity.

  • Expands 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, and contracts for deed.

  • Clarifies that spouses may join in transfer on death deeds solely to convey or release marital interests, and adds provision that spouse consent constitutes conclusive proof of waiver of statutory and marital interests upon transfer.

  • Modifies revocation procedures for transfer on death deeds by removing requirement that last surviving joint tenant must execute revocation for it to be effective.

  • Changes mortgage redemption certificate recording deadline from "within four days after the expiration of the year" to "within four days after the expiration of the period allowed by law" for redemption.

Legislative Description

Ownership of real estate by spouses and mortgage redemption periods clarification and conformance; transfer on death deeds modification

Last Action

HF substituted on General Orders HF2188

4/2/2014

Committee Referrals

Judiciary2/27/2014

Full Bill Text

No bill text available