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MN HF1792

Bill

Status

Passed

4/30/2025

Primary Sponsor

Anquam Mahamoud

Click for details

Origin

House of Representatives

94th Legislature 2025-2026

AI Summary

  • Removes the four-month time limit for county auditors to check for delinquent taxes when recording contracts for deed, requiring tax verification regardless of when the contract was executed

  • Requires investor sellers to provide 90 days' notice (instead of standard periods) before terminating a contract for deed, with mandatory 30-day advance written notice of default conditions via certified mail

  • Expands the definition of "investor seller" exemptions to include state agencies, political subdivisions, and legal entities solely owned by qualifying natural persons (such as former owner-occupants or family members)

  • Creates a statutory definition of "family member" covering spouse, parent, child, sibling, grandparent, grandchild, uncle, aunt, niece, nephew, or cousin for purposes of contract for deed regulations

  • Extends the lookback period for investor seller price disclosure requirements from one year to two years, requiring disclosure of acquisition price and date for properties acquired within two years of the contract execution

Legislative Description

Contracts for deed; definition of investor seller modified, and technical changes made.

Last Action

Secretary of State Chapter 9

4/30/2025

Committee Referrals

Rules and Administration4/7/2025
Judiciary Finance and Civil Law3/3/2025

Full Bill Text

No bill text available