Minnesota Statutes 507.331 – Certain Recitals Disregarded
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Where any instrument affecting the title to real estate in this state recites the existence of a contract for conveyance affecting such real property, or some part thereof, and the instrument containing such recital was recorded prior to 1910 in the office of the county recorder of the county wherein the real property, or some part thereof, is situated, and no action or proceeding has been taken upon such contract for conveyance and the time for performing the conditions contained in such contract expired prior to 1925, then such recital may be disregarded and shall not constitute notice of the contract for conveyance, either actual or constructive, to any subsequent purchaser or encumbrancer of the real property, or any part thereof.
Terms Used In Minnesota Statutes 507.331
- Contract: A legal written agreement that becomes binding when signed.
- purchaser: as used in this chapter , embraces every person to whom any estate or interest in real estate is conveyed for a valuable consideration and every assignee of a mortgage, lease, or other conditional estate. See Minnesota Statutes 507.01
- 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