Minnesota Statutes 507.04 – Conveyance of Protected Person’s Real Property
Subdivision 1.No conveyance except by court approval.
Except as otherwise provided by this section, if a protected person‘s right to convey an interest in real property is restricted under sections 524.5-401 to 524.5-433, no conveyance of the interest is effective unless ordered by the court pursuant to section 524.5-418. A conveyance of an interest in real property owned by the spouse of a protected person remains subject to the marital rights of the protected person unless the protected person’s conservator joins in the conveyance on behalf of the protected person pursuant to a court order under section 524.5-418. This section does not revive marital rights in real property extinguished as part of a property agreement or settlement between the spouses approved by a court of competent jurisdiction, including but not limited to a valid prenuptial or postnuptial agreement, a legal separation, or any other court approved division of assets between the spouses.
Subd. 2.
Terms Used In Minnesota Statutes 507.04
- 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.
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Deed: The legal instrument used to transfer title in real property from one person to another.
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
- 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.
- Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
Terms Used In Minnesota Statutes 507.04
- 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.
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Deed: The legal instrument used to transfer title in real property from one person to another.
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
- 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.
- Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
[Repealed by amendment, 2003 c 12 art 2 s 5]
Subd. 3.
[Repealed by amendment, 2003 c 12 art 2 s 5]
Subd. 4.
[Repealed by amendment, 2003 c 12 art 2 s 5]
Subd. 5.Inchoate interest in real property of protected person’s spouse.
In all cases where the court under section 524.5-418 has ordered a conveyance of the interest in real property owned by a protected person or has ordered a protected person’s joinder in the conveyance of an interest in real property owned by the protected person’s spouse, the conveyance includes the inchoate interest of the protected person in any share or part of the real property owned by the protected person’s spouse whether or not specifically mentioned in the proceedings or conveyance.
Subd. 6.Validity of homestead conveyance.
No conveyance of the homestead is valid unless each spouse or the duly authorized legal representative of each spouse joins in the conveyance by joint deed or by separate deeds.