MN SF4102

Private equity companies would be prohibited from having any direct or indirect ownership interest in single-family homes (defined as residential properties with 1-4 dwelling units) in Minnesota

Private equity companies include publicly and non-publicly traded entities, real estate investment trusts (REITs), and investment firms that buy and manage companies for profit

Exemptions apply to government agencies, land trusts, nonprofits providing affordable housing, corporations primarily engaged in home construction/rehabilitation, and mortgage note holders who acquire homes through foreclosure

Natural persons may still acquire ownership interests in homestead properties regardless of this prohibition

The Minnesota Attorney General would enforce the law under section 8.31, with an effective date of August 1, 2026 for property interests acquired on or after that date