Relating to real property

ARTICLE 1 - FORECLOSURE DATA

Providing for certain data practices relating to foreclosure; defining transaction agent; specifying certain foreclosure data content requirements for notice of pendency, notice of sale and the certificate of sale; requiring the secretary of state to convene a statewide foreclosure data collection working group to study, develop and implement an electronic system for the submission, collection, entry, retrieval, management and assessment of statewide foreclosure data; specifying certain membership requirements; requiring a report to the legislature by a certain date; sunset provision

ARTICLE 2 - ELECTRONIC RECORDING; COMMISSION

"Minnesota Real Property Electronic Recording Act"; providing for the validity of electronic documents; providing for the recording of electronic documents; defining certain terms; providing for the uniformity of application and construction; creating an electronic real estate recording commission by the legislative coordinating commission (LCC) to adopt standards for implementation, specifying membership requirements and duties; providing for the relation to the federal electronic signatures in global and national commerce act; authorizing the electronic real estate recording commission to accept donations of money and resources

ARTICLE 3 - CONFORMING CHANGES

Making certain conforming modifications
(Ch. 238, 2008)