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.
41B.037 HOMESTEAD REDEMPTION PROGRAM.
The authority may establish and implement a homestead redemption program under sections
41B.01 to 41B.23. The purpose of the program is to assist persons who have lost their farms due
to foreclosure, granting a deed in lieu of foreclosure, or other actions necessary to settle their
agricultural debts, and who are otherwise unable to secure the credit necessary to repurchase their
farm homestead. The authority may enter into agreements with an eligible lender for the purposes
of the program. The authority may, by rule, establish eligibility standards for the program that are
different from those established for other programs of the authority. The authority's interest in a
homestead redemption loan may not exceed one-half of the loan amount or $25,000, whichever
is less.
History: 1987 c 396 art 1 s 15
The authority may establish and implement a homestead redemption program under sections
41B.01 to 41B.23. The purpose of the program is to assist persons who have lost their farms due
to foreclosure, granting a deed in lieu of foreclosure, or other actions necessary to settle their
agricultural debts, and who are otherwise unable to secure the credit necessary to repurchase their
farm homestead. The authority may enter into agreements with an eligible lender for the purposes
of the program. The authority may, by rule, establish eligibility standards for the program that are
different from those established for other programs of the authority. The authority's interest in a
homestead redemption loan may not exceed one-half of the loan amount or $25,000, whichever
is less.
History: 1987 c 396 art 1 s 15
Official Publication of the State of Minnesota
Revisor of Statutes