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Minnesota Legislature

Office of the Revisor of Statutes

MORTGAGES

See also CONVEYANCES; MORTGAGE CORPORATIONS; MORTGAGE GUARANTY INSURANCE; MORTGAGE REGISTRY TAXES; REAL PROPERTY; TRACT INDEXES

"Churning," residential mortgage loans, Minn. Statutes 2009 58.13, 2009 58.18

"Special mortgages," Minn. Statutes 2009 58.13

Accelerated mortgage payment providers

Accounts and accounting, Minn. Statutes 2009 332.303

Background checks, Minn. Statutes 2009 332.301

Bond requirements, Minn. Statutes 2009 332.30

Debt management services providers, exclusion, Minn. Statutes 2009 332A.02

Definitions, Minn. Statutes 2009 332A.02

Generally, Minn. Statutes 2009 332.302

Acknowledgments of, power to take, Minn. Statutes 2009 359.05

Adverse claims to real property, Minn. Statutes 2009 559.17 to 2009 559.19

Advertisement of terms, Minn. Statutes 2009 47.206

Affidavits, filing or recording, mortgage registry taxes, Minn. Statutes 2009 287.05

Amendments

Deed taxes, exemption, Minn. Statutes 2009 287.22

Form, Minn. Statutes 2009 287.05

Mortgage registry taxes, exemption, Minn. Statutes 2009 287.04

Armories

Armory Building Commission, securing, conditions, Minn. Statutes 2009 193.147

Mortgage registry taxes, exemption, Minn. Statutes 2009 287.04

Assignees defined as purchasers, recording conveyances, Minn. Statutes 2009 507.01

Assignment

Corporate identity changes, Minn. Statutes 2009 507.411

Deed taxes, exemption, Minn. Statutes 2009 287.22

Defined as conveyance, Minn. Statutes 2009 507.01

Generally, Minn. Statutes 2009 47.205

Recorded assignment, Minn. Statutes 2009 287.10, 2009 507.32

Assumptions, Minn. Statutes 2009 47.20

Background checks

Accelerated mortgage payment providers, Minn. Statutes 2009 332.301

Banks with trust powers, investment powers, Minn. Statutes 2009 48A.08

Bills of lading, negotiating bills with mortgages, fines, Minn. Statutes 2009 228.48

Business corporations

Rights, powers of corporation regarding, Minn. Statutes 2009 302A.161

Canada, investments in, insurance companies, Minn. Statutes 2009 60A.11

Certificates of release of mortgage, Minn. Statutes 2009 507.401

Certificates of satisfaction by assignee, Minn. Statutes 2009 507.403

Certified copies

Certificates of satisfaction by assignee, recording, Minn. Statutes 2009 507.403

Discharges, recording, Minn. Statutes 2009 507.40

Chattel mortgages, see CHATTEL MORTGAGES

Claims secured by, defined as credits, Minn. Statutes 2009 272.03

Commercial mortgage activities, residential mortgage originator and servicer licenses, exemptions, Minn. Statutes 2009 58.05

Commercial mortgage loans

Definitions, Minn. Statutes 2009 60A.121

Insurance companies, Minn. Statutes 2009 60A.122, 2009 60A.123, 2009 60A.1285, 2009 60A.1291

Condominiums, Minn. Statutes 2009 515.02

Conflicts of interest

Rural Finance Authority, members or employees, Minn. Statutes 2009 41C.11

Construction mortgages

Defined, Minn. Statutes 2009 336.2A-309, 2009 336.9-102

Security interests, perfection and priority, Minn. Statutes 2009 336.9-334

Cooperative apartment loans

Assignment or sale, Minn. Statutes 2009 47.206

Discount point agreements, Minn. Statutes 2009 47.206

Generally, Minn. Statutes 2009 47.20

Graduated payment home loans, Minn. Statutes 2009 47.201

Insurance rates, Minn. Statutes 2009 47.20, 2009 47.206

Cooperative associations

Corporate powers, Minn. Statutes 2009 308A.201

Rights, powers of association regarding, Minn. Statutes 2009 308B.301

Cooperative power associations, Minn. Statutes 2009 507.327

Covenants, short form mortgages, Minn. Statutes 2009 507.15

Damages, failure to discharge, Minn. Statutes 2009 507.41

Deed taxes, exemptions, Minn. Statutes 2009 287.22

Defeating security, violations and penalties, Minn. Statutes 2009 609.615

Deficiency judgment, Minn. Statutes 2009 582.30

Definitions

Certificates of release of mortgage, Minn. Statutes 2009 507.401

Commercial Code, Minn. Statutes 2009 336.2A-309, 2009 336.9-102

Housing Finance Agency, Minn. Statutes 2009 462A.03

Insurance law, Minn. Statutes 2009 60A.121

MFIP, Minn. Statutes 2009 256J.08

Mortgage registry tax, Minn. Statutes 2009 287.01

Municipal housing programs, Minn. Statutes 2009 462C.02

Partnerships, Minn. Statutes 2009 323A.0101

Residential Mortgage Originator and Servicer Licensing Act, Minn. Statutes 2009 58.02

Statutory construction, Minn. Statutes 2009 645.44

Uniform Probate Code, Minn. Statutes 2009 524.1-201

Delinquent mortgage loans, insurance companies, Minn. Statutes 2009 60A.123, 2009 60A.127

Descriptions of property, misdescription, correction instruments

Mortgage registry taxes, exemption, Minn. Statutes 2009 287.04

Discharge, certified copies, electronic records, Minn. Statutes 2009 507.40

Disclosures, interest rate or discount point agreements, Minn. Statutes 2009 47.206

Discount point agreements, Minn. Statutes 2009 47.20, 2009 47.206

Discriminatory provisions restricting conveyance of real property, Minn. Statutes 2009 507.18

Distressed mortgage loans

Defined, Minn. Statutes 2009 60A.121

Insurance companies, Minn. Statutes 2009 60A.123, 2009 60A.127

Eligibility, Minn. Statutes 2009 41C.05

Escrow accounts, Minn. Statutes 2009 47.20, 2009 47.205

Evidence, Minn. Statutes 2009 287.10, 2009 507.403, 2009 507.411

Extensions

Deed taxes, exemption, Minn. Statutes 2009 287.22

Mortgage registry taxes, exemption, Minn. Statutes 2009 287.04

Farms, drafting, Minn. Statutes 2009 481.02

Federal preemption

Limitations on interest and other charges, Minn. Statutes 2009 47.204

Override, Minn. Statutes 2009 47.203

Finance charges, precomputed, refunds, Minn. Statutes 2009 47.20

Fines

Cooperative apartment loans, unlawful interest rates, Minn. Statutes 2009 47.20

Satisfaction of mortgage, failure to deliver, Minn. Statutes 2009 47.208

First mortgages

Investment companies, assets, types permitted, Minn. Statutes 2009 54.27

Fixture filing, defined, Minn. Statutes 2009 336.2A-309

Foreclosure, see Mortgages under FORECLOSURE

Foreign corporations

Business transactions, exceptions, Minn. Statutes 2009 303.03

Violations, effect, Minn. Statutes 2009 303.17

Forms

Amendments, Minn. Statutes 2009 287.05

Conveyances, Minn. Statutes 2009 507.09

Drafters, inclusion of names and addresses, Minn. Statutes 2009 507.091

Multistate mortgages, Minn. Statutes 2009 287.05

Real property in Minnesota, security for, Minn. Statutes 2009 287.05

Short form mortgages, Minn. Statutes 2009 507.15

Fraternal benefit societies

Mortgage registry taxes, exemption, Minn. Statutes 2009 287.04

Fraud, residential mortgage fraud, Minn. Statutes 2009 609.822

Gambling debts, mortgage void, Minn. Statutes 2009 541.21

Gas companies, Minn. Statutes 2009 507.327

Graduated payment home loans, Minn. Statutes 2009 47.201

Grantees, power to sell land, Minn. Statutes 2009 502.77

High-risk mortgage-backed securities

Investments in, public funds (local), exclusions, Minn. Statutes 2009 118A.04

Housing projects in blighted areas, security, Minn. Statutes 2009 469.012

Implied covenants, Minn. Statutes 2009 507.16

Industrial development projects, see Mortgages under INDUSTRIAL DEVELOPMENT DISTRICTS

Insurance companies

Definitions, Minn. Statutes 2009 60A.121

Direct write-downs, Minn. Statutes 2009 60A.123, 2009 60A.1285

Fire insurance settlement proceeds, release to mortgagee, Minn. Statutes 2009 65A.50

Generally, Minn. Statutes 2009 60A.127

Impairment, measurement, Minn. Statutes 2009 60A.123

Investments, Minn. Statutes 2009 60A.11

Life insurance companies, Minn. Statutes 2009 61A.09, 2009 61A.28

Losses, permanent impairments, realized losses, Minn. Statutes 2009 60A.1285

Valuation, Minn. Statutes 2009 60A.123

Insurance

Excess insurance, Minn. Statutes 2009 65A.09, 2009 72A.31

Group accidental death and disability income insurance policies, Minn. Statutes 2009 62A.10

Group life insurance policies, provisions, Minn. Statutes 2009 61A.09

Guaranty insurance, see MORTGAGE GUARANTY INSURANCE

Premiums, Minn. Statutes 2009 47.20

Private mortgage insurance, Minn. Statutes 2009 47.207

Interest rate agreements, Minn. Statutes 2009 47.206

Interest

Business expenses allowed, MFIP self-employed participants, Minn. Statutes 2009 256J.37

Conventional mortgage loans, Minn. Statutes 2009 47.20

Limitations, Minn. Statutes 2009 47.204

Reverse mortgages, mortgage registry tax, exemption, Minn. Statutes 2009 287.05

Investment grade, Minn. Statutes 2009 58.13

Investments in

Housing Finance Agency, powers, Minn. Statutes 2009 462A.05

Insurance companies, Minn. Statutes 2009 60A.11

Investment Board, Minn. Statutes 2009 11A.24

Public funds (local), Minn. Statutes 2009 118A.04

Public retirement plans, Minn. Statutes 2009 356A.06

Savings banks, Minn. Statutes 2009 50.14

Joint tenants, satisfaction or release, Minn. Statutes 2009 507.412

Land registration, see Mortgages under LAND REGISTRATION

Life insurance companies

Group life insurance, policies, Minn. Statutes 2009 61A.09

Loans secured by mortgages, investments, Minn. Statutes 2009 61A.28

Limited liability companies, see Mortgages under LIMITED LIABILITY COMPANIES

Long-term residential housing mortgage loans

Housing Finance Agency, powers, Minn. Statutes 2009 462A.05

Mail and mailing, satisfaction of mortgage, certified mail, Minn. Statutes 2009 47.208

Manufactured homes, repossession, Minn. Statutes 2009 327.63

Minerals, conveyances, recording, Minn. Statutes 2009 507.36

Minneapolis Employees Retirement Fund

Loans secured by mortgages, investment in, Minn. Statutes 2009 422A.05

Modifications, effect on mortgage registry taxes, Minn. Statutes 2009 287.05

Mortgage brokers

Agency, duties, Minn. Statutes 2009 58.16, 2009 58.161

Fees paid to, Minn. Statutes 2009 58.137, 2009 58.16

Lawsuits against, Minn. Statutes 2009 58.18

Mortgage certificate program

Housing Finance Agency, powers, Minn. Statutes 2009 462A.05

Mortgage credit certificate programs

Definitions, Minn. Statutes 2009 462C.02

Generally, Minn. Statutes 2009 462C.11

Mortgage liens

Junior liens, voluntary foreclosures, Minn. Statutes 2009 582.32

Subdivided land sales, Minn. Statutes 2009 83.40

Mortgage loans

Agricultural property, mortgage registry taxes, exemption, Minn. Statutes 2009 287.04

Applications, credit inquiries arising from, Minn. Statutes 2009 13C.01

Commercial mortgage loans, see same under this topic

Definitions, Minn. Statutes 2009 56.001

Farmers Home Administration, see FARMERS HOME ADMINISTRATION (FMHA)

Federal Home Loan Mortgage Corporation, see FEDERAL HOME LOAN MORTGAGE CORPORATION (FREDDIE MAC)

Federal National Mortgage Association, see FEDERAL NATIONAL MORTGAGE ASSOCIATION (FANNIE MAE)

Group life insurance policies, provisions, Minn. Statutes 2009 61A.09

Housing and Urban Development Department (U.S.), see HOUSING AND URBAN DEVELOPMENT DEPARTMENT (U.S.)

Housing Finance Agency, see Mortgage loans under HOUSING FINANCE AGENCY LOANS AND GRANTS

Improved real estate, banks, liability, Minn. Statutes 2009 48.24

Low and moderate income/affordable housing programs, mortgage registry taxes, exemption, Minn. Statutes 2009 287.04

Renegotiable rate mortgage loans, Minn. Statutes 2009 50.14

Reverse mortgages, see same under this topic

Veterans Administration, see VETERANS ADMINISTRATION (U.S.)

Mortgage trustees, Minn. Statutes 2009 48A.07

Mortgagees

Advances by, mortgage registry taxes, exemption, Minn. Statutes 2009 287.05

Definitions, Minn. Statutes 2009 47.20, 2009 507.401

Delinquent property taxes, filing to receive notice, Minn. Statutes 2009 276.041

Fiduciary duties, mortgage registry taxes, collection and remittance, Minn. Statutes 2009 287.08

Foreclosure consultants, exclusion, Minn. Statutes 2009 325N.01

Fraternal benefit societies, mortgage registry taxes, exemption, Minn. Statutes 2009 287.04

Land acquired by foreclosure, hazardous substances releases, responsible persons, Minn. Statutes 2009 115B.03

Notice received, fire insurance, final settlement, partial withholding, Minn. Statutes 2009 65A.50

Payments to, fire insurance settlement proceeds, Minn. Statutes 2009 65A.50

Property taxes, payment, notice given, Minn. Statutes 2009 272.435

Public nuisances, definitions, Minn. Statutes 2009 617.80

Tax liens, enforcement, filing of notice, Minn. Statutes 2009 270C.63

Mortgagors

Liability, wrongful or erroneous certificates of release of mortgage, Minn. Statutes 2009 507.401

Notice received, property taxes, payment, Minn. Statutes 2009 272.435

Residential real estate closings, Minn. Statutes 2009 507.45

Multistate mortgages

Mortgage registry taxes, see MORTGAGE REGISTRY TAXES

Municipal gas agencies, Minn. Statutes 2009 453A.04, 2009 453A.05

Municipal power agencies, Minn. Statutes 2009 453.54, 2009 453.55

Neighborhood land trusts, Minn. Statutes 2009 462A.31

Nonprofit corporations, Minn. Statutes 2009 317A.161, 2009 317A.305, 2009 317A.671

Notice

Recitals of unrecorded mortgages, Minn. Statutes 2009 507.332

Recording deemed notice, Minn. Statutes 2009 507.32, 2009 507.325

Ores, conveyances, recording, Minn. Statutes 2009 507.36

Owners, affidavits

Deed taxes, see DEED TAXES

Mortgage registry taxes, payment, Minn. Statutes 2009 287.11

Partial release, deed taxes, exemption, Minn. Statutes 2009 287.22

Payments

Assignment for benefit of creditors, Minn. Statutes 2009 577.08

Charges against principal, Uniform Principal and Income Act, Minn. Statutes 2009 501B.71

Reverse mortgages, Minn. Statutes 2009 287.05

Performing mortgage loans, insurance companies, valuation, Minn. Statutes 2009 60A.123

Pipeline companies, Minn. Statutes 2009 507.327, 2009 507.328

Plain Language Contract Act, exemption, Minn. Statutes 2009 325G.30

Power companies, Minn. Statutes 2009 507.327

Power to make, generally, Minn. Statutes 2009 47.20

Precomputed loans, finance charges, refunds, Minn. Statutes 2009 47.20

Predatory lending practices

Residential mortgage loans, Minn. Statutes 2009 58.13, 2009 58.18, 2009 609.822

Prepayment penalties

Eminent domain, Minn. Statutes 2009 117.087

Restrictions, Minn. Statutes 2009 58.137

Private mortgage insurance, Minn. Statutes 2009 47.207

Probate, mortgages defined, Minn. Statutes 2009 524.1-201

Public property, exemptions, Minn. Statutes 2009 287.04

Public retirement plans

Loans secured by mortgages, investment in, Minn. Statutes 2009 356.64

Public service corporations, Minn. Statutes 2009 301B.04, 2009 301B.05

Public utilities, Minn. Statutes 2009 507.327

Purchase money real estate mortgages, see PURCHASE MONEY REAL ESTATE MORTGAGES

Purchase, mortgage defined as, Minn. Statutes 2009 336.1-201, 2009 336.2A-103

Railroads, Minn. Statutes 2009 222.13, 2009 222.18

Real estate mortgage investment conduit, ownership of interest, income and franchise taxes, exceptions, Minn. Statutes 2009 290.015

Real estate mortgages, defined as encumbrances, Minn. Statutes 2009 336.2A-309

Real property subject to taconite and iron sulfides taxes

Mortgage registry taxes, exemption, Minn. Statutes 2009 287.04

Real property, nonjoinder of spouse, effect, Minn. Statutes 2009 507.03

Recitals

Disregarding, Minn. Statutes 2009 507.33, 2009 507.331

Unrecorded mortgages, Minn. Statutes 2009 507.332

Recording

Corporate identity changes, Minn. Statutes 2009 507.411

County recorders, duties, Minn. Statutes 2009 386.39

Defined, Minn. Statutes 2009 287.01

Mortgage registry taxes, payment, Minn. Statutes 2009 287.10

Refinancing mortgages, Housing Finance Agency, powers, Minn. Statutes 2009 462A.05

Refunds, precomputed finance charges, Minn. Statutes 2009 47.20

Registration

Electronic documents, Minn. Statutes 2009 287.08

Fees, Minn. Statutes 2009 40A.151, 2009 40A.152

Taxes, see MORTGAGE REGISTRY TAXES

Regulated lenders, see Mortgages under REGULATED LENDERS

Religious corporations, see Mortgages under RELIGIOUS CORPORATIONS

Renegotiable rate mortgage loans, Minn. Statutes 2009 50.14

Residences, drafting, Minn. Statutes 2009 481.02

Residential mortgage fraud, Minn. Statutes 2009 609.822

Residential mortgage loans

Defined, Minn. Statutes 2009 47.207

Interest rates, Minn. Statutes 2009 58.16

Predatory lending practices, Minn. Statutes 2009 58.13, 2009 58.18, 2009 609.822

Rates, fully indexed rate, Minn. Statutes 2009 58.02

Residential mortgage originators and servicers, Minn. Statutes 2009 58.125, 2009 58.13

Residential mortgage originators and servicers, Minn. Statutes 2009 58.01 to 2009 58.17, 2009 60K.43

Restrictions, discriminatory provisions restricting conveyance of real property, Minn. Statutes 2009 507.18

Restructured mortgage loans

Insurance companies, Minn. Statutes 2009 60A.123, 2009 60A.127

Retail installment contracts

Motor Vehicle Retail Installment Sales Act, Minn. Statutes 2009 53C.01

Reverse mortgages

Authorized, Minn. Statutes 2009 47.20

Federally administered mortgages, tax exemption, Minn. Statutes 2009 287.05

Generally, Minn. Statutes 2009 47.58

Interest, Minn. Statutes 2009 47.58, 2009 287.05

MFIP, income, exclusion, Minn. Statutes 2009 256J.21

Mortgage registry taxes, see MORTGAGE REGISTRY TAXES

Proceeds, disregards, Minn. Statutes 2009 256.99

Revolving lines of credit secured by

Mortgage registry tax, Minn. Statutes 2009 287.05

Recording, notice to parties, Minn. Statutes 2009 507.325

Rural development financing authorities, powers, Minn. Statutes 2009 469.146

Rural Finance Authority, seller-sponsored loans, security, Minn. Statutes 2009 41B.042

Rural water user districts, property, Minn. Statutes 2009 110A.33, 2009 110A.34

Satisfaction

Certificates of release of mortgage, Minn. Statutes 2009 507.401

Certificates of satisfaction by assignee, Minn. Statutes 2009 507.403

Conveyancing forms, Minn. Statutes 2009 507.09, 2009 507.091

Corporate identity changes, Minn. Statutes 2009 507.411

Deed taxes, exemption, Minn. Statutes 2009 287.22

Delivery, Minn. Statutes 2009 47.208

Failure to discharge, Minn. Statutes 2009 507.41

Procedure, Minn. Statutes 2009 507.40

Recording, mortgage registry tax payments, Minn. Statutes 2009 287.10

Release by fewer than all mortgagees, Minn. Statutes 2009 507.412

Violations and penalties, failure to deliver, Minn. Statutes 2009 47.208

Secured transactions, see Mortgages under SECURED TRANSACTIONS

Securities, exemptions, Minn. Statutes 2009 83.26

Security

Agricultural improvement programs, direct loans, Minn. Statutes 2009 41B.043

Agricultural resource project loans, Minn. Statutes 2009 41A.03

Inapplicable laws, Minn. Statutes 2009 47.21

Instruments, mortgage registry taxes, exemption, Minn. Statutes 2009 287.04

Livestock expansion loans, Minn. Statutes 2009 41B.045

Multistate mortgages, Minn. Statutes 2009 287.05

Real property in Minnesota, Minn. Statutes 2009 287.05

Selling mortgaged real estate, Minn. Statutes 2009 47.20

Semitaconite mining companies, Minn. Statutes 2009 507.327

Senior citizens' property tax deferral program, Minn. Statutes 2009 290B.03, 2009 290B.04

Share of future appreciation, regulating, Minn. Statutes 2009 47.20

Shelter costs, mortgages defined as, Minn. Statutes 2009 256J.08

Successors in interest, savings banks, Minn. Statutes 2009 50.1485

Supplemental mortgages, see MORTGAGE REGISTRY TAXES

Taconite mining companies, Minn. Statutes 2009 507.327

Tax-exempt property, mortgages on

Mortgage registry taxes, exemption, Minn. Statutes 2009 287.04

Taxes, see MORTGAGE REGISTRY TAXES

Telegraph companies

Bonds secured by, Minn. Statutes 2009 222.141

Recording requirements, Minn. Statutes 2009 222.18

Telephone companies

Bonds secured by, Minn. Statutes 2009 222.141

Generally, Minn. Statutes 2009 507.327

Timber, conveyances, recording, Minn. Statutes 2009 507.36

Transfer statements, see under SECURED TRANSACTIONS

Transfers, mortgages defined as, Minn. Statutes 2009 323A.0101

Trust companies, investment powers, Minn. Statutes 2009 48A.08

Trusts

Assets, generally, Minn. Statutes 2009 501B.46 to 2009 501B.57

Trustees, enumerated powers, Minn. Statutes 2009 501B.81

Uniform Short Form Mortgage Act, Minn. Statutes 2009 507.15

Unrecorded mortgages, recitals, notice, generally, Minn. Statutes 2009 507.332

Usury, Minn. Statutes 2009 47.20

Validity, mortgage registry tax, errors, Minn. Statutes 2009 287.10

Veterans administration, secured mortgages

Savings banks, purchasing, selling, Minn. Statutes 2009 50.155

Violations and penalties

Cooperative apartment loans, unlawful interest rates, Minn. Statutes 2009 47.20

Discount point agreements, Minn. Statutes 2009 47.206

Failure to discharge, damages, Minn. Statutes 2009 507.41

Interest rate agreements, Minn. Statutes 2009 47.206

Predatory lending, Minn. Statutes 2009 609.822

Unlawful interest rates, Minn. Statutes 2009 47.20

Waivers, Minn. Statutes 2009 47.20

Warehouse receipts, negotiating without disclosing mortgage, Minn. Statutes 2009 227.55