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Key: (1) language to be deleted (2) new language

CHAPTER 18--S.F.No. 1807

An act

relating to real property; extending sunset of temporary exception for certain filings of mortgages and deeds of trust;

amending Laws 2020, chapter 118, section 4.

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

Section 1.

Laws 2020, chapter 118, section 4, is amended to read:

Sec. 4.

FILING OF MORTGAGE OR DEED OF TRUST deleted text begin THROUGH 2020; PUBLIC UTILITYdeleted text end .

Notwithstanding Minnesota Statutes, section 507.327, deleted text begin for the public utility subject to Minnesota Statutes, section 116C.7791,deleted text end the filing of the mortgage or deed of trust executed between May 1, 2020, and deleted text begin December 31, 2020deleted text end new text begin June 30, 2022new text end , filed in the Office of the Secretary of State under Minnesota Statutes, section deleted text begin 336.02deleted text end new text begin 336B.02new text end , along with, or as part of, the financing statement covering the fixtures, has the same effect, and is notice of the rights and interests of the mortgagee or trustee in easements, other less than fee simple interests in real estate, and fee simple interests in real estate deleted text begin of the public utilitydeleted text end to the same extent, as if the mortgage or deed of trust were duly recorded in the office of the county recorder or duly registered in the office of the registrar of titles of the counties in which the real estate is situated. The effectiveness of the filing terminates at the same time as provided in Minnesota Statutes, section 336B.02, subdivision 3, for the termination of the effectiveness of fixture filing. Any filing made in accordance with this section shall also be made with the office of the county recorder, or duly registered in the office of the registrar of titles, of the counties in which the real estate is situated.

new text begin EFFECTIVE DATE. new text end

new text begin This section is effective retroactively from December 30, 2020. new text end

Presented to the governor May 21, 2021

Signed by the governor May 25, 2021, 8:19 a.m.

Official Publication of the State of Minnesota
Revisor of Statutes