Minn. Stat. § 580.01
Limitation
Subject to the provisions of section 541.03, any mortgage of real estate containing a power of sale, upon default being made in any condition thereof, may be foreclosed by advertisement.
Minnesota Statutes Chapter 580 — Mortgages; Foreclosure by Advertisement
Minnesota · statute · Minn. Stat. ch. 580 · 38 active provisions
Minn. Stat. § 580.02
Requisites for Foreclosure
To entitle any party to make such foreclosure, it is requisite: (1) that some default in a condition of such mortgage has occurred, by which the power to sell has become operative; (2) that no action or proceeding has been instituted at law to recover the debt then remaining secured by such mortgage, or any part thereo…
Minn. Stat. § 580.021
Foreclosure Prevention Counseling
Subdivision 1. Applicability. This section applies to foreclosure of mortgages by advertisement under this chapter and foreclosure of mortgages by action under chapter 581 on property consisting of one to four family dwelling units, one of which the owner occupies as the owner's principal place of residency when the no…
Minn. Stat. § 580.022
Forms
Subdivision 1. Counseling form. The notice required under section 580.021, subdivision 2, clause (2), must be printed on colored paper that is other than the color of any other document provided with it and must appear substantially as follows: "PREFORECLOSURE NOTICE Foreclosure Prevention Counseling Why You Are Gettin…
Minn. Stat. § 580.025
Foreclosure Data
Subdivision 1. Applicability. This section applies to foreclosure of mortgages under this chapter on property consisting of one to four family dwelling units. Subd. 2. Data required. The notice of pendency required by section 580.032, subdivision 3; the notice of sale required by section 580.04; and the certificate of…
Minn. Stat. § 580.03
Notice of Sale; Service on Occupant
Six weeks' published notice shall be given that such mortgage will be foreclosed by sale of the mortgaged premises or some part thereof, and at least four weeks before the appointed time of sale a copy of such notice shall be served in like manner as a summons in a civil action in the district court upon the person in…
Minn. Stat. § 580.032
Request for Notice; Mailed Notice
Subdivision 1. Recording request for notice. A person having a redeemable interest in real property under section 580.23 or 580.24, may record a request for notice of a mortgage foreclosure by advertisement with the county recorder or registrar of titles of the county where the property is located. To be effective for…
Minn. Stat. § 580.033
Where Notice Published
Subdivision 1. Location of qualified newspaper. For purposes of this chapter, publication of the notice of sale is sufficient if it occurs: (1) in a qualified newspaper having its known office of issue located in the county where the mortgaged premises, or some part of the mortgaged premises are located; or (2) in a qu…
Minn. Stat. § 580.04
Requisites of Notice
(a) Each notice shall specify or contain: (1) the name of the mortgagor, the mortgagee, each assignee of the mortgage, if any, and the original or maximum principal amount secured by the mortgage; (2) the date of the mortgage, and when and where recorded, except where the mortgage is upon registered land, in which case…
Minn. Stat. § 580.041
Foreclosure Advice and Redemption Rights Notice to Owners
Subdivision 1. [Renumbered subd 1b] Subd. 1a. Applicability. This section applies to foreclosure of mortgages by advertisement under this chapter and foreclosure of mortgages by action under chapter 581 on property consisting of one to four family dwelling units, one of which the owner occupies as the owner's principal…
Minn. Stat. § 580.042
Foreclosure Advice Notice to Tenant
Subdivision 1. Applicability. This section applies to foreclosure of mortgages by advertisement under this chapter and foreclosure of mortgages by action under chapter 581 on property consisting of one to four family dwelling units, one or more of which are occupied by a tenant as a residence. Subd. 2. Form of delivery…
Minn. Stat. § 580.045
Record Owner with No Financial Interest
A notice of foreclosure required under section 580.04 must include the name of each mortgagor who, at the time of first publication of the notice, has been released from financial obligation on the mortgage and a statement that the named mortgagor has been released from financial obligation on the mortgage.
Minn. Stat. § 580.05
Attorney to Foreclose; Record of Power
When an attorney at law is employed to conduct such foreclosure, the authority of the attorney at law shall appear by power of attorney executed and acknowledged by the mortgagee or assignee of the mortgage in the same manner as a conveyance, and recorded prior to the sale in the county where the foreclosure proceeding…
Minn. Stat. § 580.06
Sale, How and by Whom Made
The sale shall be made by the sheriff or the sheriff's deputy at public venue to the highest bidder, in the county in which the premises to be sold, or some part thereof, are situated, between 9:00 a.m. and 4:00 p.m.
Minn. Stat. § 580.07
Postponement
Subdivision 1. Postponement by mortgagee. (a) The sale may be postponed, from time to time, by the party conducting the foreclosure. The party requesting the postponement must, at the party's expense: (1) publish, only once, a notice of the postponement and the rescheduled date of the sale, if known, as soon as practic…
Minn. Stat. § 580.08
Separate Tracts
If the mortgaged premises consist of separate and distinct farms or tracts, they shall be sold separately, and no more farms or tracts shall be sold than are necessary to satisfy the amount due on such mortgage at the date of notice of such sale, with interest, taxes paid, and costs of sale.
Minn. Stat. § 580.09
Foreclosure of Installment; Sale; Proceeds; Redemption
Where a mortgage is given to secure the payment of money by installments, each installment, either for principal or interest, or both, as is due at any time, may be taken and deemed to be a separate and independent mortgage, and such mortgage for each such installment may be foreclosed by advertisement or by action, in…
Minn. Stat. § 580.10
Surplus
Subdivision 1. Demand for surplus. In all cases not provided for in section 580.09, and except as required by subdivision 3, if, after sale of any real estate, made as herein prescribed, there remains in the hands of the officer making the sale any surplus money, after satisfying the mortgage, with interest, taxes paid…
Minn. Stat. § 580.11
Mortgagee or Assignee May Purchase
The mortgagee, the mortgagee's assignee, or the legal representative of either or both, may fairly and in good faith purchase the premises so advertised, or any part thereof, at such sale.
Minn. Stat. § 580.12
Certificate of Sale; Record; Effect
When any sale of real property is made under a power of sale contained in any mortgage, the officer shall make and deliver to the purchaser a certificate, executed in the same manner as a conveyance, containing: (1) a description of the mortgage; (2) a description of the property sold; (3) the price paid for each parce…
Minn. Stat. § 580.13
Premises in More Than One County; Record
If any mortgage covering real estate in more than one county be foreclosed by proceedings had in one county, and the mortgage debt be thereby paid, in whole or in part, there may be recorded by the county recorder of the other county a certified copy of the certificate of sale and other foreclosure proceedings of recor…
Minn. Stat. § 580.14
Execution After Expiration of Term
Where the term of office of the sheriff or deputy who made the sale expires within 20 days thereafter, and before executing the certificate required by law, that sheriff or deputy may execute and acknowledge the same in like manner and with like effect as if the term had not expired.
Minn. Stat. § 580.15
Perpetuating Evidence of Sale
Any party desiring to perpetuate the evidence of any sale made in pursuance of this chapter may procure: (1) an affidavit of the publication of the notice of sale and of any notice of postponement to be made by the printer of the newspaper in which the same was inserted or by some person in the printer's employ knowing…
Minn. Stat. § 580.17
Affidavit of Costs
Within ten days after the filing for record of the certificate of sale, the party foreclosing, or the party's attorney, shall make and record with the county recorder an affidavit containing a detailed bill of the costs and disbursements of the foreclosure, including attorney's fees, and setting forth that the same hav…
Minn. Stat. § 580.18
Excessive Costs or Interest
At any time within one year after the sale, the mortgagor, the mortgagor's heirs or assigns, may recover from the owner of the mortgage at the time of foreclosure three times the amount of any sums charged as costs or disbursements on such foreclosure but not absolutely paid, unless such amounts have been paid to the m…
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