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580.23 REDEMPTION BY MORTGAGOR; AFFIDAVIT OF NONAGRICULTURAL
USE; WAIVER.
    Subdivision 1. Six-month redemption period. When lands have been sold in conformity
with the preceding sections of this chapter, the mortgagor, the mortgagor's personal representatives
or assigns, within six months after such sale, except as otherwise provided in subdivision 2 or
section 582.032 or 582.32, may redeem such lands, as hereinafter provided, by paying the sum
of money for which the same were sold, with interest from the time of sale at the rate provided
to be paid on the mortgage debt and, if no rate be provided in the mortgage note, at the rate of
six percent per annum, together with any further sums which may be payable as provided in
sections 582.03 and 582.031.
    Subd. 2. 12-month redemption period. Notwithstanding the provisions of subdivision 1
hereof, when lands have been sold in conformity with the preceding sections of this chapter, the
mortgagor, the mortgagor's personal representatives or assigns, within 12 months after such sale,
may redeem such lands in accordance with the provisions of payment of subdivision 1 thereof, if:
(1) the mortgage was executed prior to July 1, 1967;
(2) the amount claimed to be due and owing as of the date of the notice of foreclosure sale is
less than 66-2/3 percent of the original principal amount secured by the mortgage;
(3) the mortgage was executed prior to July 1, 1987, and the mortgaged premises, as of the
date of the execution of the mortgage, exceeded ten acres in size;
(4) the mortgage was executed prior to August 1, 1994, and the mortgaged premises, as of
the date of the execution of the mortgage, exceeded ten acres but did not exceed 40 acres in size
and was in agricultural use as defined in section 40A.02, subdivision 3;
(5) the mortgaged premises, as of the date of the execution of the mortgage, exceeded 40
acres in size; or
(6) the mortgage was executed on or after August 1, 1994, and the mortgaged premises, as of
the date of the execution of the mortgage, exceeded ten acres but did not exceed 40 acres in size
and was in agricultural use. For purposes of this clause, "in agricultural use" means that at least a
portion of the mortgaged premises was classified for ad valorem tax purposes as:
(i) class 2a agricultural homestead property under section 273.13, subdivision 23;
(ii) class 2b rural or agricultural nonhomestead property under section 273.13, subdivision 23;
(iii) class 1b agricultural homestead property under section 273.13, subdivision 22; or
(iv) exempt wetlands under section 272.02, subdivision 11.
    Subd. 3. Affidavit of nonagricultural use. (a) With respect to mortgages executed prior
to August 1, 1994, an affidavit signed by the mortgagor and a certificate signed by the county
assessor where the land is located stating that the mortgaged premises as legally described in the
affidavit and certificate are not in agricultural use as defined in section 40A.02, subdivision 3,
may be recorded in the office of the county recorder or registrar of titles where the property is
located and are prima facie evidence of the facts contained in the affidavit and certificate.
(b) With respect to mortgages executed on or after August 1, 1994, an affidavit signed by the
mortgagor and a certificate signed by the county assessor where the land is located, stating that
the mortgaged premises as legally described in the affidavit and certificate are not in agricultural
use, may be recorded in the office of the county recorder or registrar of titles where the property is
located and are prima facie evidence of the facts contained in the affidavit and certificate. For
purposes of this paragraph, "not in agricultural use" means that no portion of the mortgaged
premises, as legally described in the affidavit or certificate, is currently classified for ad valorem
tax purposes in any classification listed in subdivision 2, clause (6), item (i), (ii), (iii), or (iv).
    Subd. 4. Waiver; 12-month redemption for ag use. A mortgagor, before or at the time of
granting a mortgage executed on or after August 1, 1994, may waive in writing the mortgagor's
right under subdivision 2, clause (6), to have a 12-month redemption period based upon the
premises being in agricultural use as of the date of execution of the mortgage. The written waiver
must be either a document separate from the mortgage or a separately executed and acknowledged
addendum to the mortgage on a separate page. If the written waiver is a separate document, it
must be in recordable form and must either recite the recorded document number of the mortgage
or recite the names of the mortgagor and mortgagee, the legal description of the mortgaged
property, and the date of the mortgage. If the written waiver is a separate document, it must be
recorded in the office of the county recorder or registrar of titles no later than ten days after the
recording of the mortgage. Where there is a waiver of the rights under subdivision 2, clause (6),
the redemption period in subdivision 1 applies.
History: (9626) RL s 4480; 1967 c 248 s 2; 1982 c 473 s 29; 1986 c 398 art 19 s 3; 1986 c
444; 1987 c 230 s 1,2; 1989 c 328 art 3 s 8; 1993 c 40 s 2; 1994 c 587 art 5 s 26; 2005 c 4 s 149