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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.

HIST: (2322) 1907 c 328 s 1; 1983 c 233 s 2; 1999 c 31 s 2