2000 Minnesota Statutes

     507.03 Purchase-money mortgage; nonjoinder of spouse. 

    When a married individual purchases real property during 
 marriage and mortgages the real property to secure the payment 
 of the purchase price or any portion of it, the other spouse 
 shall not be entitled to any inchoate, contingent, or marital 
 property right or interest in the real property as against the 
 mortgagee or those claiming under the mortgagee even though the 
 other spouse did not join in the mortgage.  A statement in the 
 mortgage to the effect that the mortgage is a purchase money 
 mortgage constitutes prima facie evidence of that fact. 

    HIST: (8198) 1909 c 29 s 1; 1909 c 465 s 1; 1986 c 444; 1992 c 
 463 s 1