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SF 2918

as introduced - 85th Legislature (2007 - 2008) Posted on 12/15/2009 12:00am

KEY: stricken = removed, old language.
underscored = added, new language.
Line numbers 1.1 1.2 1.3 1.4
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A bill for an act
relating to mortgages; redemption period; providing for notice of sale; amending
Minnesota Statutes 2006, section 582.032, subdivision 2.

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

Section 1.

Minnesota Statutes 2006, section 582.032, subdivision 2, is amended to read:


Subd. 2.

Before foreclosure sale.

Notwithstanding section 580.23 or 581.10, if at
any time before the foreclosure sale but not more than 30 days before the first publication
of the notice of sale, a court order is entered reducing the mortgagor's redemption period to
five weeks under subdivision 7, after the mortgaged premises have been sold as provided
in chapter 580 or 581, the mortgagor, and the mortgagor's personal representatives or
assigns, within five weeks after the sale under chapter 580, or within five weeks after
the date of the order confirming the sale under chapter 581, may redeem the mortgaged
premises as provided in section 580.23, subdivision 1, or 581.10, as applicable. deleted text beginIf an order
is obtained after the first publication of the notice of sale, the five-week redemption period
applies only if the notice of sale contained the statement required by section 580.04,
clause (7)
deleted text endnew text begin All publications of notice of sale must include the statement required by section
580.04, clause (7). The last publication of notice of sale prior to the sale under chapter 580
must state if the foreclosing party will petition to have the redemption period reduced as
provided in this section
new text end.