SF505

SF505 (Legislative Session 94 (2025-2026))

Definition modification of investor seller

Related bill: HF1792

AI Generated Summary

Senate File No. 505 is a legislative bill introduced in Minnesota that proposes modifications to existing laws regarding contracts for deed, primarily concerning the sale and transfer of land and property. The bill details amendments to several statutes to clarify and update procedures for recording deeds and other land transfer instruments. It specifies the handling of taxes and fees that must be paid or verified before such documents can be officially recorded. If any taxes are overdue on the property described in these documents, the county auditor must verify and certify this before the transfer can go through. The bill also lists various types of legal documents related to property transactions that can be exempt from this requirement under certain conditions. Additionally, it imposes penalties for county recorders or registrars who fail to comply with these stipulations, making them liable for any resulting damages. Overall, the bill aims to streamline and tighten the processes for transferring property titles, ensuring all pertinent taxes are addressed, and providing clear guidelines for when certain exemptions apply.

Bill text versions

Introduction PDF file
1st Engrossment PDF file

Actions

Date	Chamber	Where	Type	Name	Committee Name
January 22, 2025	Senate	Floor	Action	Introduction and first reading
January 22, 2025	Senate	Floor	Action	Referred to	Judiciary and Public Safety
February 19, 2025	Senate	Floor	Action	Comm report: To pass as amended
February 19, 2025	Senate	Floor	Action	Second reading
	Senate	Floor	Action	Referred to	Rules and Administration

Citations

[
  {
    "analysis": {
      "added": [],
      "removed": [],
      "summary": "Reference to conditions under which certain instruments affect land titles in modification of investor seller definitions.",
      "modified": []
    },
    "citation": "559.21"
  },
  {
    "analysis": {
      "added": [],
      "removed": [],
      "summary": "Inclusion of surveys required pursuant to this section as instruments presented for land conveyance.",
      "modified": []
    },
    "citation": "508.47"
  },
  {
    "analysis": {
      "added": [],
      "removed": [],
      "summary": "Allows certain homeowner association documents to be recorded without an auditor's certificate as specified in this section.",
      "modified": []
    },
    "citation": "515B.1-116"
  },
  {
    "analysis": {
      "added": [],
      "removed": [],
      "summary": "Explanation of what constitutes delinquent taxes as per this section.",
      "modified": []
    },
    "citation": "279.02"
  },
  {
    "analysis": {
      "added": [],
      "removed": [],
      "summary": "References to state provisions regarding real estate previously forfeited to the state.",
      "modified": []
    },
    "citation": "281.16 to 281.25"
  },
  {
    "analysis": {
      "added": [],
      "removed": [],
      "summary": "Relates to transfer on death deeds, permitting recording without certain certificates.",
      "modified": []
    },
    "citation": "507.071"
  }
]