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.
507.325 MORTGAGE SECURING REVOLVING LINE OF CREDIT; NOTICE.
A mortgage securing a revolving line of credit under which advances, payments, and
readvances may be made from time to time, and which states the maximum amount of the line of
credit which may be secured at any one time, is effective as notice to parties from the time the
mortgage is recorded as to all advances and readvances secured thereby, regardless of the time or
amount of advances, payments, or readvances and whether or not the advances or readvances
are obligatory.
History: 1984 c 502 art 14 s 16
A mortgage securing a revolving line of credit under which advances, payments, and
readvances may be made from time to time, and which states the maximum amount of the line of
credit which may be secured at any one time, is effective as notice to parties from the time the
mortgage is recorded as to all advances and readvances secured thereby, regardless of the time or
amount of advances, payments, or readvances and whether or not the advances or readvances
are obligatory.
History: 1984 c 502 art 14 s 16
Official Publication of the State of Minnesota
Revisor of Statutes