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SF 343 Senate Long Description

E Relating to real property ARTICLE 1Modifying certain application procedures and content requirements for creation of agricultural preserves under the agricultural land preservation program and for designation of wetland preservation areas, specifying certain recording duties of the registrar of titles; providing for county recorder treatment of misfiled documents; changing the term covenant agreement to covenant under the metropolitan agricultural preserves act and modifying certain application procedures and content requirements; modifying certain provisions regulating certificates of title to real property and eliminating certain references to and requirements for owner duplicates, requiring copies; modifying certain real estate registration, instrument filing and land survey drawing requirements; clarifying the procedure for the registration of mortgages; providing for registrar correction of clerical errors; modifying certain provisions regulating the registration of certificates of possessory title (CPT) and the filing of instruments; repealing certain provisions relating to owner duplicate certificates of title ARTICLE 2Modifying certain provisions under the Minnesota common interest ownership act; expanding the applicability of the provisions to condominiums created under the Minnesota condominium act and modifying the application to cooperatives and planned communities; clarifying the definition of common interest community, modifying the definition of master association and defining master declaration; modifying certain document recording requirements relating to restatements or amendments; clarifying the requirements for recording declarations for condominiums or cooperatives with unit boundaries; modifying certain unit description and allocation of interest requirements; modifying and clarifying certain CIC plat requirements; authorizing and regulating unit owner handicap or disability improvements or alterations; clarifying agreement or consent requirements for declaration amendments; modifying the provision regulating master associations, requiring a board of directors and a master declaration; expanding certain authority of resultant CIC associations after merger or consolidation; providing for the severance of individual units from and for the addition of common elements to CICs; modifying certain requirements for association boards of directors, providing for the confidentiality of minutes of closed meetings; modifying certain requirements for the termination of contracts or leases; expanding annual report content requirements; providing for class voting; clarifying insurance coverage exclusions; modifying certain common expense assessment requirements and clarifying the provision providing for assessment liens; extending the time limit for delivery of reviewed financial statements to association members; expanding and modifying disclosure statement content requirements; reducing and prohibiting waiver of the rescission period and imposing a statute of limitations for actions relating to purchaser right to cancel; expanding resale disclosure certificate content requirements; imposing a waiting period for eviction of occupants upon the conversion of property ARTICLE 3Clarifying certain definitions and other provisions under certain banking, insurance, subdivided land, well location disclosure, cable communications, homestead property and waste management sales tax, manufactured homes, county recorder fees, county survey, special service district, municipal housing program, real estate and plat provisions relating to common interest communities (CIC); clarifying certain document recording feesARTICLE 4Extending the time period before expiration for reappointment of notaries public; clarifying a certain county recorder documents consecutive numbering requirement; clarifying a certain provision regulating the conveyance of estates or trusts; modifying a certain provision regulating the payment of attorney fees relating to defaulted real estate conveyance contracts; clarifying a certain published notice requirement of mortgagees relating to voluntary foreclosure sales (ja)