Legislative Session number- 85

Bill Name: HF3516

HF 3516

FOURTH ENGROSSMENT

Foreclosure information specification provided,
report required, and electronic recording provisions provided.

ARTICLE 1 --
FORECLOSURE DATA

Section 1: Transaction agent definition and language are
provided.

Section 2: Foreclosure data language is provided.

Section 3: Study
to develop statewide foreclosure data collection and reporting system language
is provided.
Subdivision 1. Study
Subdivision 2. Working group.
Subdivision 3.
Report.
Subdivision 4. Expiration.

Section 4: Effective date is
provided.

ARTICLE 2 -- ELECTRONIC RECORDING; COMMISSION

Section 1: Definitions
are provided.

Section 2: Uniformity of application and construction language
is provided.

Section 3: Validity and time of recording of electronic documents
language is provided.

Section 4: Recording of documents language is
provided.

Section 5: Administration language is provided.

Section 6: Standards
language is provided.

Section 7: Relation to electronic signatures in Global
and National Commerce Act language is provided.

Section 8: Donations;
reimbursement language is provided.

Section 9: Title language is provided,
"Minnesota Real Property Electronic Recording Act."

Section 10: Effective date
is July 1, 2008.

ARTICLE 3 -- CONFORMING CHANGES

Section 1: Rulemaking
procedures language is modified.

Section 2: Electronic facsimile language is
provided.

Section 3: Tax, how payable, receipts language is modified.

Section
4: Statement of tax due or exemption; recording or registering of documents
language is modified.
Subdivision 1. Statement of tax due or
exemption.
Subdivision 2. Notice of certificate of value.

Section 5: Payment of
tax; stamps language is modified.

Section 6: Reception index language is
modified.

Section 7: Record books, indexes language is modified.

Section 8:
Counties over 100,00 language modified.

Section 9: Consecutive numbering
language is modified.

Section 10: County recorder's official signature language
is modified.

Section 11: Standards for documents to be recorded or filed
language is modified.

Section 12: Original signatures required language is
modified.

Section 13: Mortgages how discharged language is modified.

Section
14: Form of certificate language is modified.

SNA 4/23/08