Minnesota Statutes 559.215 – Validating Terminations of Contract of Sale
Every termination of a contract for the conveyance of real property or an interest in real property is legal and valid after the expiration of the period specified in section 559.216 as against the following objections:
Terms Used In Minnesota Statutes 559.215
- Contract: A legal written agreement that becomes binding when signed.
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- 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
- 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) that prior to the service of notice of termination, no mortgage registration tax was paid on the contract, or an insufficient registration tax was paid on the contract;
(2) that the notice:
(i) did not correctly state the amount of attorney fees;
(ii) failed to state or incorrectly stated the names of one or more of the sellers, or the sellers’ successors or assigns, or incorrectly described the interest or representative capacity of the person giving the notice;
(iii) was printed or typed in an incorrect type size;
(iv) incorrectly stated the number of days after service that the contract will terminate, provided that the number of days stated is not less than 30 days; or
(v) did not correctly state the two percent amount required to be paid by section 559.21, subdivision 2a, clause (4);
(3) that the cancellation was commenced by less than all sellers; or
(4) that in the case of a termination by publication the notice was not served on all persons in possession of the real estate, provided it was served on at least one of those persons.