Office of the Revisor of Statutes
Minnesota Session Laws - 1998, Regular Session
Key: (1) language to be deleted (2) new language
CHAPTER 262-S.F.No. 2031
An act relating to commerce; regulating conveyances
and other transactions relating to real and personal
property; making corrective and conforming changes to
the Uniform Partnership Act of 1994; amending
Minnesota Statutes 1996, sections 501B.57, subdivision
1, and by adding a subdivision; 507.24; and 580.24;
Minnesota Statutes 1997 Supplement, sections 315.121;
322A.88; 323A.1-04; 323A.3-06; and 524.2-403; Laws
1997, chapter 174, article 12, sections 67 and 68;
proposing coding for new law in Minnesota Statutes,
chapter 507.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:
Section 1. Minnesota Statutes 1997 Supplement, section
315.121, is amended to read:
315.121 [RELIGIOUS CORPORATIONS, CERTAIN CONVEYANCES
VALIDATED.]
All conveyances executed by any religious corporation or
society organized under this chapter, conveying real property
within this state that have been of record for more than six
years in the office of the county recorder or registrar of
titles of the county in which the real estate conveyed is
located, and the record of the conveyance, are legalized,
validated, and confirmed, even though the corporate records do
not disclose that the execution of the conveyance was authorized
by the congregation of the religious corporation in the manner
provided by law, or the record of the authorization has not been
recorded in the office of the county recorder or registrar of
titles of the county in which the real estate conveyed is
located, or the certificate or any other document specified by
section 315.03 has not been recorded in the office of the county
recorder of the county in which the real estate is located or in
which the place of worship of the corporation or society is
located.
Sec. 2. Minnesota Statutes 1997 Supplement, section
322A.88, is amended to read:
322A.88 [LIMITED LIABILITY LIMITED PARTNERSHIP.]
(a) A limited partnership may become a limited
liability limited partnership by:
(1) obtaining approval of the terms and conditions under
which the limited partnership elects limited liability limited
partnership status by the vote necessary to amend the limited
partnership agreement except, in the case of a limited
partnership agreement that expressly considers contribution
obligations, the vote necessary to amend those provisions;
(2) filing a statement of qualification under section
323A.10-01(c) of the Uniform Partnership Act (1994); and
(3) complying with the name requirements of section
323A.10-02 of the Uniform Partnership Act (1994).
(b) A limited liability limited partnership continues to be
the same entity that existed before the filing of a statement of
qualification under section 323A.10-01(c) of the Uniform
Partnership Act (1994).
(c) Sections 323A.3-06(c) and 323A.3-07(f) 323A.3-07(d) of
the Uniform Partnership Act (1994) apply to both general and
limited partners of a limited liability limited partnership.
Sec. 3. Minnesota Statutes 1997 Supplement, section
323A.1-04, is amended to read:
323A.1-04 [SUPPLEMENTAL PRINCIPLES OF LAW.]
(a) Unless displaced by particular provisions of this
chapter, the principles of law and equity supplement this
chapter.
(b) If an obligation to pay interest arises under this
chapter and the rate is not specified, the rate is that
specified in chapter 334 section 549.09.
Sec. 4. Minnesota Statutes 1997 Supplement, section
323A.3-06, is amended to read:
323A.3-06 [PARTNER'S LIABILITY.]
(a) Except as otherwise provided in subsections (b) and
(c), all partners are liable jointly and severally for all
obligations of the partnership unless otherwise agreed by the
claimant or provided by law.
(b) A person admitted as a partner into an existing
partnership is not personally liable for any partnership
obligation incurred before the person's admission as a partner.
(c) An obligation of a partnership incurred while the
partnership is a limited liability partnership, whether arising
in contract, tort, or otherwise, is solely the obligation of the
partnership. A partner is not personally liable, directly or
indirectly, by way of contribution or otherwise, for such an
obligation solely by reason of being or so acting as a partner.
This subsection applies notwithstanding anything inconsistent in
the partnership agreement that existed immediately before the
vote required to become a limited liability partnership under
section 323A.10-01(b).
(d) For the purposes of this section:
(1) All partnership debts and obligations under or relating
to a note, contract, or other agreement are incurred when the
note, contract, or other agreement is entered into.
(2) An amendment, modification, extension, or renewal of a
note, contract, or other agreement does not affect the time at
which a partnership debt or obligation under or relating to that
note, contract, or other agreement is incurred, even as to a
claim that relates to the subject matter of the amendment,
modification, extension, or renewal.
This subsection does not affect any law, rule, or period
pertaining to any statute of limitations or statute of repose.
Sec. 5. Minnesota Statutes 1996, section 501B.57,
subdivision 1, is amended to read:
Subdivision 1. [FORM OF AFFIDAVIT FOR INTER VIVOS TRUST.]
An affidavit of a trustee or of trustees of an inter vivos trust
in support of a real property transaction may be substantially
in the following form:
STATE OF MINNESOTA ) AFFIDAVIT OF TRUSTEE
)ss.
COUNTY OF )
.........................., being first duly sworn on oath
says that:
1. Affiant is the trustee (one of the trustees) named in
that certain Certificate of Trust (or Trust Instrument) dated
......., 19.., and
filed for record ......., 19.., as Document No. ..... (or
in Book ..... of ............, Page ......) in the Office
of the (County Recorder(/Registrar of Titles) of
........... County, Minnesota,
OR
to which this Affidavit is attached,
executed by Affiant or another trustee or the grantor of the
trust described in the Certificate of Trust (or set forth in the
Trust Instrument), and which relates to real property in
.......... County, Minnesota legally described as follows:
............................................................
...............................................................
...............................................................
...............................................................
(If more space is needed, continue on back or on
attachment.)
2. The name(s) and address(es) of the trustee(s) empowered
by the Trust Instrument to act at the time of the execution of
this Affidavit are as follows:
.........................................................
..............................................................
..............................................................
3. The trustee(s) who have executed that certain
instrument relating to the real property described above between
........................, as trustee(s) and
..........................., dated .........., 19..:
(a) are empowered by the provisions of the trust to sell,
convey, pledge, mortgage, lease, or transfer title to any
interest in real property held in trust; and
(b) are the requisite number of trustees required by the
provisions of the trust to execute and deliver such an
instrument.
4. The trust has not terminated and has not been revoked.
- OR -
4. The trust has terminated (or has been revoked). The
execution and delivery of the instrument described in paragraph
3 has been made pursuant to the provisions of the trust.
5. There has been no amendment to the trust which limits
the power of trustee(s) to execute and deliver the instrument
described in paragraph 3.
6. The trust is not supervised by any court.
- OR -
6. The trust is supervised by the ............ Court of
.............. County, ................ All necessary approval
has been obtained from the court for the trustee(s) to execute
and deliver the instrument described in paragraph 3.
7. Affiant does not have actual knowledge of any facts
indicating that the trust is invalid.
.............................
, Affiant
Subscribed and sworn to before me
this .... day of ........., 19...
.............................
Notary Stamp or Seal Signature of Notary Public or
Other Official
This instrument was drafted by:
...............................
...............................
Sec. 6. Minnesota Statutes 1996, section 501B.57, is
amended by adding a subdivision to read:
Subd. 3. [RECORDING OR FILING.] An Affidavit of Trustee or
Trustees under subdivisions 1 and 1a may be recorded in the
office of the county recorder for any county, or filed with the
office of the registrar of titles for any county with respect to
registered land described in the affidavit, or in the
Certificate of Trust or Trust Instrument referred to in the
affidavit, and may be recorded or filed as a separate document
or combined with or attached to an original or certified copy of
a Certificate of Trust or Trust Instrument, and recorded or
filed as one document.
Sec. 7. Minnesota Statutes 1996, section 507.24, is
amended to read:
507.24 [RECORDABLE, WHEN.]
Subdivision 1. [GENERAL.] To entitle any conveyance, power
of attorney, or other instrument affecting real estate to
record, it shall be executed, acknowledged by the parties
executing the same, and the acknowledgment certified, as
required by law. All such instruments may be recorded in every
county where any of the lands lie. If the conveyance, power of
attorney, or other instrument affecting real estate is executed
out of state, it shall be entitled to record if executed as
above provided or according to the laws of the place of
execution so as to be entitled to record in such place.
Subd. 2. [ORIGINAL SIGNATURES REQUIRED.] Unless otherwise
provided by law, an instrument affecting real estate that is to
be recorded as provided in this section or other applicable law
must contain the original signatures of the parties who execute
it and of the notary public or other officer taking an
acknowledgment.
Sec. 8. [507.421] [ESTATES AND TRUSTS; CONVEYANCES,
SATISFACTIONS, GRANTS, AND RELEASES.]
Subdivision 1. [MADE TO ESTATE OR TRUST.] A conveyance or
grant of an interest in real or personal property made to the
estate of a decedent, to the estate of a ward, or to a trust,
including a trust in the form of a pension or profit-sharing
plan, that names the estate or the trust as the grantee of the
interest, is a valid and effective conveyance or grant of the
interest to the personal representative, guardian, or
conservator of the estate, or to the trustee of the trust, in
like manner and effect as if the personal representative,
guardian, conservator, or trustee had been named the grantee of
the conveyance or grant.
Subd. 2. [MADE BY ESTATE OR TRUST.] A satisfaction,
release, conveyance, or grant of an interest in real or personal
property that is made by an estate or trust described in
subdivision 1, that names the estate or trust as the holder or
grantor of the interest, and that is executed by the personal
representative, guardian, conservator, or trustee authorized to
execute the instrument, is a valid and effective satisfaction,
release, conveyance, or grant of the interest, in like manner
and effect as if the personal representative, guardian,
conservator, or trustee had been named the holder or the grantor
in the satisfaction, release, conveyance, or grant.
Sec. 9. Minnesota Statutes 1997 Supplement, section
524.2-403, is amended to read:
524.2-403 [EXEMPT PROPERTY.]
(a) If there is a surviving spouse, then, in addition to
the homestead and family allowance, the surviving spouse is
entitled from the estate to:
(1) property not exceeding $10,000 in value in excess of
any security interests therein, in household furniture,
furnishings, appliances, and personal effects, subject to an
award of sentimental value property under section 525.152; and
(2) one automobile, if any, without regard to value.
(b) If there is no surviving spouse, the decedent's
children are entitled jointly to the same property as provided
in paragraph (a), except that where it appears from the
decedent's will a child was omitted intentionally, the child is
not entitled to the rights conferred by this section.
(c) If encumbered chattels are selected and the value in
excess of security interests, plus that of other exempt
property, is less than $10,000, or if there is not $10,000 worth
of exempt property in the estate, the surviving spouse or
children are entitled to other personal property of the estate,
if any, to the extent necessary to make up the $10,000 value.
(d) Rights to exempt property and assets needed to make up
a deficiency of exempt property have priority over all claims
against the estate, but the right to any assets to make up a
deficiency of exempt property abates as necessary to permit
earlier payment of the family allowance.
(e) The rights granted by this section are in addition to
any benefit or share passing to the surviving spouse or children
by the decedent's will, unless otherwise provided, by intestate
succession or by way of elective share.
(f) No rights granted to a decedent's adult children under
this section shall have precedence over a claim under section
246.53, 256B.15, 256D.16, 261.04, or 524.3-805, paragraph (a),
clause (1), (2), or (3).
Sec. 10. Minnesota Statutes 1996, section 580.24, is
amended to read:
580.24 [REDEMPTION BY CREDITOR.]
If no such redemption be made by the mortgagor, the
mortgagor's personal representatives or assigns, the senior
creditor having a lien, legal or equitable, upon the mortgaged
premises, or some part thereof, subsequent to the mortgage, may
redeem within five seven days after the expiration of the
redemption period determined under section 580.23 or 582.032,
whichever is applicable; and each subsequent creditor having a
lien in succession, according to priority of liens, within five
seven days after the time allowed the prior lienholder,
respectively, may redeem by paying the amount aforesaid and all
liens prior to the lienholder's own held by the person from whom
redemption is made; provided that no creditor shall be entitled
to redeem unless within the period allowed for redemption the
creditor file for record notice of intention to redeem with the
county recorder or registrar of titles of each county where the
mortgage is recorded. Saturdays, Sundays, legal holidays, and
the first day following the expiration of the prior redemption
period must be included in computing the seven-day redemption
period. When the last day of the period falls on Saturday,
Sunday, or a legal holiday, that day must be omitted from the
computation. All mechanic's lienholders who have coordinate
liens shall have one combined seven-day period to redeem.
Sec. 11. Laws 1997, chapter 174, article 12, section 67,
is amended to read:
Sec. 67. [EFFECTIVE DATE.]
Minnesota Statutes, chapter 323A, takes effect and section
61, are effective January 1, 1999.
Section 65 is effective January 1, 1997.
Sec. 12. Laws 1997, chapter 174, article 12, section 68,
is amended to read:
Sec. 68. [REPEALERS.]
Minnesota Statutes 1996, sections 323.01; 323.02,
subdivisions 1, 2, 3, 4, 5, 6, 7, and 7a, 8, and 9; 323.03;
323.04; 323.05; 323.06; 323.07; 323.08; 323.09; 323.10; 323.11;
323.12; 323.13; 323.14; 323.15; 323.16; 323.17; 323.18; 323.19;
323.20; 323.21; 323.22; 323.23; 323.24; 323.25; 323.26; 323.27;
323.28; 323.29; 323.30; 323.31; 323.32; 323.33; 323.34; 323.35;
323.36; 323.37; 323.38; 323.39; 323.40; 323.41; 323.42; 323.43;
323.44; 323.45; 323.46; and 323.47; 323.48; and 323.49, are
repealed effective January 1, 2002.
Sec. 13. [APPLICABILITY; TRANSITION PROVISIONS.]
Subdivision 1. [SECTION 8.] (a) Except as provided in
paragraph (b), section 8 applies to past and future conveyances,
grants, satisfactions, and releases.
(b) However, if a notice of the pendency of the action or
proceeding is recorded or filed before February 1, 1999, in the
office of the county recorder or registrar of titles of the
county in which the real property affected by the action or
proceeding is located, section 8 does not affect an action or
proceeding: (1) that is pending on the effective date of
section 8 involving the validity of the conveyance, grant,
satisfaction, or release, or (2) that is commenced before
February 1, 1999.
Subd. 2. [SECTION 10.] Section 10 applies to redemptions
where the owner's period of redemption has not expired before
the effective date.
Presented to the governor March 2, 1998
Signed by the governor March 4, 1998, 10:10 a.m.
Official Publication of the State of Minnesota
Revisor of Statutes