Subdivision 1.Applicant’s right to changeover.

Any applicant holding a possessory estate in land as defined in section 508A.01, subdivision 3, may apply for registration under sections 508A.01 to 508A.85 and, once qualified, may changeover from a CPT to a certificate of title pursuant to section 508A.85.

Subd. 2.Application of CPTs.

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Except as provided in subdivision 1, section 508.04, subdivision 1, applies with equal force and effect to CPTs under sections 508A.01 to 508A.85.