CHAPTER 211--H.F.No. 2828
relating to real property; clarifying requirements for an instrument intended to secure debt;
amending Minnesota Statutes 2008, section 287.03.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:
287.03 INSTRUMENTS VALID SECURITY FOR DEBT.
No instrument, other than a decree of marriage dissolution or an instrument made pursuant to it, relating to real estate shall be valid as security for any debt, unless the fact that it is intended and the initial known amount of the debt are expressed in it.
Presented to the governor March 29, 2010
Signed by the governor April 1, 2010, 10:15 a.m.