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580.12 CERTIFICATE OF SALE; RECORD; EFFECT.
When any sale of real property is made under a power of sale contained in any mortgage,
the officer shall make and deliver to the purchaser a certificate, executed in the same manner as
a conveyance, containing:
(1) a description of the mortgage;
(2) a description of the property sold;
(3) the price paid for each parcel sold;
(4) the time and place of the sale, and the name of the purchaser; and
(5) the time allowed by law for redemption, provided that if the redemption period stated in
the certificate is five weeks and a longer redemption period was stated in the published notice of
foreclosure sale, a certified copy of the court order entered under section 582.032, authorizing
reduction of the redemption period to five weeks, must be attached to the certificate.
A certificate which states a five-week redemption period must be recorded within ten days
after the sale; any other certificate must be recorded within 20 days after the sale. When so
recorded, upon expiration of the time for redemption, the certificate shall operate as a conveyance
to the purchaser or the purchaser's assignee of all the right, title, and interest of the mortgagor in
and to the premises named therein at the date of such mortgage, without any other conveyance. A
certificate must not contain a time allowed for redemption that is less than the time specified by
section 580.23, 582.032, or 582.32, whichever applies.
History: (9613) RL s 4468; 1986 c 444; 1989 c 328 art 3 s 7; 1994 c 388 art 1 s 6

Official Publication of the State of Minnesota
Revisor of Statutes