Minnesota Statutes 501B.47 – Petition by Owner of Present or Future Interest for Court Order to Sell, Mortgage, or Lease Interests in Real Property
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Notwithstanding a contrary provision in the instrument creating the interests, when the ownership of real property situated in this state is divided into one or more possessory interests and one or more future interests, the owner of an interest may petition the district court for the county in which any of the real property is situated for an order directing that the real property or part of the real property be sold, mortgaged, or leased. If an owner is a minor or incapacitated person as defined in section 524.5-102, subdivision 6 or 10, or otherwise under conservatorship, the petition may be made on behalf of the owner by a custodian, conservator, or guardian.
Terms Used In Minnesota Statutes 501B.47
- 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
- Person: may extend and be applied to bodies politic and corporate, and to partnerships and other unincorporated associations. See Minnesota Statutes 645.44
- 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