Minnesota Statutes 550.30 – Creditor May Redeem in Certain Cases
Current as of: 2023 | Check for updates
|
Other versions
Any creditor whose claim shall have been proved and allowed by a court of this state against the estate of a deceased debtor shall have the right, as a creditor of such decedent, to redeem the lands of the decedent from a sale thereof upon the foreclosure of a mortgage, or upon an execution, in the order and in the manner herein provided.
Terms Used In Minnesota Statutes 550.30
- Decedent: A deceased person.
- Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. Source: OCC
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- state: extends to and includes the District of Columbia and the several territories. See Minnesota Statutes 645.44