1998 Minnesota Code
Chapters 517 - 519 Domestic Relations
Chapter 518 Marriage Dissolution
Section 518.583 Capital gain on sale of principal residence.
518.583 Capital gain on sale of principal residence.
All judgments and decrees involving a principal residence must include the following notice to the parties as a finding of fact or as an appendix:
"CAPITAL GAIN ON SALE OF PRINCIPAL RESIDENCE
Income tax laws regarding the capital gain tax may apply to the sale of the parties' principal residence and the parties may wish to consult with an attorney or tax advisor concerning the applicable laws. These laws may include, but are not limited to, the exclusion available on the sale of a principal residence for those over a certain age under section 121 of the Internal Revenue Code of 1986, or other applicable law."
HIST: 1990 c 574 s 20; 1993 c 322 s 13
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