The tax imposed by section 287.035 does not apply to:

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Terms Used In Minnesota Statutes 287.04

  • Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
  • Contract: A legal written agreement that becomes binding when signed.
  • Deed: The legal instrument used to transfer title in real property from one person to another.
  • Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
  • Mortgage loan: A loan made by a lender to a borrower for the financing of real property. Source: OCC
  • Mortgagee: The person to whom property is mortgaged and who has loaned the money.
  • Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
  • state: extends to and includes the District of Columbia and the several territories. See Minnesota Statutes 645.44
  • Tax: means any fee, charge, exaction, or assessment imposed by a governmental entity on an individual, person, entity, transaction, good, service, or other thing. See Minnesota Statutes 645.44

(1) a decree of marriage dissolution or an instrument made pursuant to it;

(2) a mortgage given to correct a misdescription of the mortgaged property;

(3) a mortgage or other instrument that adds additional security for the same debt for which mortgage registry tax has been paid;

(4) a contract for the conveyance of any interest in real property, including a contract for deed;

(5) a mortgage secured by real property subject to the minerals production tax of sections 298.24 to 298.28;

(6) a mortgage loan made under a low and moderate income housing program, or other affordable housing program, if: (i) the mortgagee is a federal, state, or local government agency; or (ii) the assignee is a federal, state, or local government agency;

(7) mortgages granted by fraternal benefit societies subject to section 64B.24;

(8) a mortgage amendment or extension, as defined in section 287.01;

(9) an agricultural mortgage if the proceeds of the loan secured by the mortgage are used to acquire or improve real property classified under section 273.13, subdivision 23, paragraph (a) or (b); and

(10) a mortgage on an armory building as set forth in section 193.147.