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Minnesota Legislature

Office of the Revisor of Statutes

HF 51

as introduced - 80th Legislature (1997 - 1998) Posted on 12/15/2009 12:00am

KEY: stricken = removed, old language.
underscored = added, new language.
  1.1                          A bill for an act 
  1.2             relating to marriage dissolution; requiring certain 
  1.3             notices regarding real property and debt transfers; 
  1.4             proposing coding for new law in Minnesota Statutes, 
  1.5             chapter 518. 
  1.6   BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 
  1.7      Section 1.  [518.584] [REQUIRED NOTICE REGARDING REAL 
  1.8   PROPERTY AND DEBT TRANSFERS.] 
  1.9      Subdivision 1.  [REAL PROPERTY.] A judgment or decree of 
  1.10  dissolution or legal separation that involves transfer of real 
  1.11  property must include the following notice to the parties: 
  1.12                    "REAL PROPERTY TRANSFERS. 
  1.13     A party required by this document to transfer an interest 
  1.14  in real property to another party must promptly execute all 
  1.15  documents necessary to effect the transfer of that interest and 
  1.16  must file those transfer documents with the appropriate 
  1.17  governmental entity." 
  1.18     Subd. 2.  [CREDIT CARD OR OTHER DEBT.] A judgment or decree 
  1.19  of dissolution or legal separation that involves the assumption 
  1.20  by one party of credit card or other debt previously shared by 
  1.21  the parties must include the following notice to the parties: 
  1.22             "TRANSFER OF CREDIT CARD OR OTHER DEBT.
  1.23     A party required by this document to assume credit card or 
  1.24  other debt previously shared by the parties must promptly notify 
  1.25  the creditor of that assumption of the debt and execute all 
  2.1   documents and take all actions necessary to release the other 
  2.2   party from the debt."