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HF 2245

as introduced - 92nd Legislature (2021 - 2022) Posted on 04/22/2021 11:47am

KEY: stricken = removed, old language.
underscored = added, new language.
Version List Authors and Status
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Current Version - as introduced

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A bill for an act
 relating to real property; extending sunset of temporary exception for certain filings
of mortgages and deeds of trust; amending Laws 2020, chapter 118, section 4.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:

Section 1.

Laws 2020, chapter 118, section 4, is amended to read:


Sec. 4. FILING OF MORTGAGE OR DEED OF TRUST deleted text begin THROUGH 2020; PUBLIC
UTILITYdeleted text end .

Notwithstanding Minnesota Statutes, section 507.327, deleted text begin for the public utility subject to
Minnesota Statutes, section 116C.7791,deleted text end the filing of the mortgage or deed of trust executed
between May 1, 2020, and deleted text begin December 31, 2020deleted text end new text begin June 30, 2022new text end , filed in the Office of the
Secretary of State under Minnesota Statutes, section deleted text begin 336.02deleted text end new text begin 336B.02new text end , along with, or as part
of, the financing statement covering the fixtures, has the same effect, and is notice of the
rights and interests of the mortgagee or trustee in easements, other less than fee simple
interests in real estate, and fee simple interests in real estate deleted text begin of the public utilitydeleted text end to the same
extent, as if the mortgage or deed of trust were duly recorded in the office of the county
recorder or duly registered in the office of the registrar of titles of the counties in which the
real estate is situated. The effectiveness of the filing terminates at the same time as provided
in Minnesota Statutes, section 336B.02, subdivision 3, for the termination of the effectiveness
of fixture filing. Any filing made in accordance with this section shall also be made with
the office of the county recorder, or duly registered in the office of the registrar of titles, of
the counties in which the real estate is situated.

new text begin EFFECTIVE DATE. new text end

new text begin This section is effective retroactively from December 30, 2020.
 new text end