Minnesota · statute · Minn. Stat. ch. 559A · 5 active provisions
Subdivision 1. Application. The definitions in this section apply to sections 559A.01 to 559A.05. Subd. 2. Balloon payment. "Balloon payment" means a scheduled payment of principal, interest, or both under a contract for deed that is significantly larger than the regular installment payments and that may be due prior t…
This chapter applies only to residential real property where a purchaser is entering into a contract for deed with an investor seller. Either of the following statements included in a contract for deed in which the property is not residential real property or the seller is not an investor seller shall constitute prima…
Subdivision 1. Disclosures required. (a) In addition to the disclosures required under sections 513.52 to 513.61, an investor seller must deliver to a prospective purchaser the disclosures specified under this section and instructions for cancellation as provided under section 559A.04, subdivision 2, paragraph (b). (b)…
Subdivision 1. Requirement of investor seller if property subject to mortgage. An investor may not execute a contract for deed that is subject to a mortgage with a due-on-sale clause and not expressly assumed by the contract for deed purchaser unless the investor seller has: (1) procured a binding agreement with the mo…
Subdivision 1. Definition. For the purposes of this section, "material violation of section 559A.03" means: (1) if applicable, failure to disclose any balloon payment as required under section 559A.03, subdivision 2; (2) failure to disclose the price paid by the investor seller under the contract for deed to acquire pr…