Minnesota Legislature
Office of the Revisor of Statutes
2007 Minnesota Statutes
This is an historical version of this statute chapter. Also view the most recent published version.
117.087 PREPAYMENT PENALTIES; DAMAGES.
When property is taken pursuant to this chapter and it is security for a loan or advance of
credit with a provision requiring or permitting the imposition of a penalty if the loan or advance
of credit is prepaid, the cost of the penalty is an item of damages which shall be separately stated.
When property is purchased by a body having the power of eminent domain the buyer
shall inquire whether it is security for a loan or advance of credit with a provision requiring or
permitting the imposition of a penalty if the loan or advance of credit is prepaid and, if so, the
penalty shall be an item considered by the parties in the negotiation of the price.
History: 1978 c 623 s 1; 2006 c 214 s 20
When property is taken pursuant to this chapter and it is security for a loan or advance of
credit with a provision requiring or permitting the imposition of a penalty if the loan or advance
of credit is prepaid, the cost of the penalty is an item of damages which shall be separately stated.
When property is purchased by a body having the power of eminent domain the buyer
shall inquire whether it is security for a loan or advance of credit with a provision requiring or
permitting the imposition of a penalty if the loan or advance of credit is prepaid and, if so, the
penalty shall be an item considered by the parties in the negotiation of the price.
History: 1978 c 623 s 1; 2006 c 214 s 20
Official Publication of the State of Minnesota
Revisor of Statutes