HF1792

HF1792 (Legislative Session 94 (2025-2026))

Definition modification of investor seller

Related bill: SF505

AI Generated Summary

Purpose of the Bill

This bill aims to modify regulations around contracts for deed, specifically updating the definition of an "investor seller." It also seeks to make technical changes to existing Minnesota statutes related to real estate transactions and tax requirements.

Main Provisions

Updating Definitions: The bill changes the definition of "investor seller" in the context of contracts for deed. This impacts how certain real estate transactions are categorized and potentially how they are taxed or regulated.
Technical Amendments: It introduces technical adjustments to various Minnesota statutes, including sections 272.12, 559.21, 559A.01, 559A.03, and 559A.04, to streamline and clarify processes related to the conveyance of land and recording of real estate transactions.
Tax Regulations: The bill outlines the conditions under which deeds or other instruments affecting real estate titles must be presented to the county auditor, including checking for delinquent taxes and ensuring taxes are paid before recording is allowed.
Recording Procedures: Specifies the procedure for recording deeds of distribution, contracts for deed, and other real estate documents, with emphasis on whether taxes need to be certified as paid before these documents can be officially recorded.

Significant Changes to Existing Law

The bill mandates that county auditors check for delinquent taxes on the land involved in contracts for deed and ensure taxes are paid before transferring land documents or allowing for their recording.
Several types of real estate documents are exempted from the requirement of certifying taxes paid before recording, such as sheriff's certificates of sale and certain probate-related documents.
It decriminalizes incorrect tax certification if conducted by county officials under specific erroneous assumptions, requiring reimbursement for incorrectly assumed taxes.

Relevant Terms

Contracts for Deed
Investor Seller
Delinquent Taxes
Real Estate Transactions
County Auditor
Recording Deeds

Bill text versions

1st Engrossment PDF file
Introduction PDF file

Actions

Date	Chamber	Where	Type	Name	Committee Name
April 06, 2025	Senate	Floor	Action	Received from House
March 02, 2025	House	Floor	Action	Introduction and first reading, referred to	Judiciary Finance and Civil Law
April 06, 2025	Senate	Floor	Action	Introduction and first reading
March 25, 2025	House	Floor	Action	Author added
April 06, 2025	Senate	Floor	Action	Referred to	Rules and Administration
March 26, 2025	House	Floor	Action	Committee report, to adopt as amended
March 26, 2025	House	Floor	Action	Second reading
March 31, 2025	House	Floor	Action	House rule 1.21, placed on Calendar for the Day
April 02, 2025	House	Floor	Action	Third reading
April 02, 2025	House	Floor	Action	Bill was passed

Citations

[
  {
    "analysis": {
      "added": [],
      "removed": [],
      "summary": "This section outlines the requirements for the conveyance of land and the payment of taxes before recording with the county auditor.",
      "modified": []
    },
    "citation": "272.12",
    "subdivision": ""
  },
  {
    "analysis": {
      "added": [],
      "removed": [],
      "summary": "This bill makes technical changes to the process related to contracts for deeds.",
      "modified": []
    },
    "citation": "559.21",
    "subdivision": "subdivision 4"
  },
  {
    "analysis": {
      "added": [],
      "removed": [],
      "summary": "This bill modifies definitions related to contracts for deed investor sellers.",
      "modified": []
    },
    "citation": "559A.01",
    "subdivision": "subdivisions 3, 5"
  },
  {
    "analysis": {
      "added": [],
      "removed": [],
      "summary": "Modifies additional technical aspects of contracts for deed.",
      "modified": []
    },
    "citation": "559A.03",
    "subdivision": "subdivision 3"
  },
  {
    "analysis": {
      "added": [],
      "removed": [],
      "summary": "Technical changes made to contracts for deed administration.",
      "modified": []
    },
    "citation": "559A.04",
    "subdivision": ""
  },
  {
    "analysis": {
      "added": [],
      "removed": [],
      "summary": "Referenced for survey requirements.",
      "modified": []
    },
    "citation": "508.47",
    "subdivision": ""
  },
  {
    "analysis": {
      "added": [],
      "removed": [],
      "summary": "Referenced for condominium plat requirements.",
      "modified": []
    },
    "citation": "515A",
    "subdivision": ""
  },
  {
    "analysis": {
      "added": [],
      "removed": [],
      "summary": "Referenced for common interest community plat requirements.",
      "modified": []
    },
    "citation": "515B",
    "subdivision": ""
  },
  {
    "analysis": {
      "added": [],
      "removed": [],
      "summary": "Referenced in relation to the termination of a contract for deed.",
      "modified": []
    },
    "citation": "559.213",
    "subdivision": ""
  },
  {
    "analysis": {
      "added": [],
      "removed": [],
      "summary": "Referenced for transfer on death deeds.",
      "modified": []
    },
    "citation": "507.071",
    "subdivision": ""
  },
  {
    "analysis": {
      "added": [],
      "removed": [],
      "summary": "Referenced for recording governance documents without auditor's certificate.",
      "modified": []
    },
    "citation": "515B.1-116",
    "subdivision": ""
  }
]