2006 Minnesota Statutes

16B.285 RECORD OF CONTRACTS FOR DEED AND ASSIGNMENTS; EFFECT.
(a) A contract for deed issued for land sold according to sections 16B.281 to 16B.287, or
any assignment thereof, executed and acknowledged as provided by law for the execution and
acknowledgment of deeds, may be recorded in the office of the county recorder of any county in
the state in the same manner and with like effect as deeds are therein recorded. The contract for
deed entitles the purchaser, or the heirs and assigns of the purchaser, to the exclusive possession
of the land therein described, provided its terms have been in all respects complied with, and
the contract for deed and the record thereof is conclusive evidence of title in the purchaser, or
the heirs and assigns of the purchaser, for all purposes and against all persons, except the state
of Minnesota in case of forfeiture.
(b) When a contract for deed or partial interest in a contract for deed is assigned, the
assignment must be made on a form provided by the commissioner, executed by the assignor and
assignee, and consented to by the commissioner. An assignment of a partial interest must state
that payment to date has been made to the commissioner.
(c) When the assignee satisfies the terms of the assignment and corresponding terms of the
contract for deed, the commissioner shall issue a deed to the assignee.
History: 2004 c 262 art 1 s 6