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MN HF1792
Bill
Status
4/30/2025
Primary Sponsor
Anquam Mahamoud
Click for details
AI Summary
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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
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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
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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)
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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
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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