§ 501B.46 Petition for Court Order to Sell, Mortgage, or Lease Real Property Held in Trust
§ 501B.47 Petition by Owner of Present or Future Interest for Court Order to Sell, Mortgage, or Lease Interests in Real Property
§ 501B.48 When Petition May Be Granted
§ 501B.49 Notice of Hearing
§ 501B.50 Representation of Persons Who Are Unborn, Unascertained, Unknown, or Minors or Incapacitated Persons
§ 501B.51 Order Upon Petition; Execution of Transaction
§ 501B.52 Report of Agreement for Confirmation
§ 501B.53 Order of Confirmation; Contents and Subsequent Procedures; Distribution of Assets
§ 501B.54 Legal Effect of Deed, Mortgage, or Lease Made Under Section 501B.53
§ 501B.55 Date of Creation of Interests Affected by the Procedures in Sections 501B.46 to 501B.54
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Terms Used In Minnesota Statutes > Chapter 501B > SALES AND LEASES OF REAL PROPERTY

  • Appeal: A request made after a trial, asking another court (usually the court of appeals) to decide whether the trial was conducted properly. To make such a request is "to appeal" or "to take an appeal." One who appeals is called the appellant.
  • Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
  • Common law: The legal system that originated in England and is now in use in the United States. It is based on judicial decisions rather than legislative action.
  • Deed: The legal instrument used to transfer title in real property from one person to another.
  • Fee simple: Absolute title to property with no limitations or restrictions regarding the person who may inherit it.
  • Guardian: A person legally empowered and charged with the duty of taking care of and managing the property of another person who because of age, intellect, or health, is incapable of managing his (her) own affairs.
  • Minor: means an individual under the age of 18. See Minnesota Statutes 645.451
  • Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
  • Trustee: A person or institution holding and administering property in trust.