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MN SF440
Bill
Status
3/23/2021
Primary Sponsor
Mark Johnson
Click for details
AI Summary
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Requires the record owner of tax-forfeited property to be listed as grantee when the commissioner of revenue issues a quitclaim deed, or their estate if the owner is deceased at time of redemption expiration or payment certification.
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Modifies tax-forfeited land repurchase procedures by establishing new sections 282.302, 282.303, and 282.304 to clarify deed conveyance rules and recordation requirements effective July 1, 2021.
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Replaces terminology "foreclosure consultant" with "solicitor" and "foreclosed homeowner" with "owner" throughout Minnesota Statutes Chapter 325N governing foreclosure equity purchaser activities.
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Extends statute of limitations for private cause of action against solicitors from four to six years in section 325N.06 and clarifies that property reconveyance contracts must comply with federal Home Ownership Equity Protection Act requirements.
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Provides automatic stay in eviction actions when defendant makes prima facie showing of foreclosure property reconveyance violations, with stay expiring upon failure to commence action within 90 days or court order lifting the stay.
Legislative Description
Real property ownership definitions clarification; record owner listed as grantee in tax-forfeited land sales requirement
Last Action
Secretary of State, Filed
3/23/2021