2003 Minnesota Code
Chapters 570 - 583 Compensatory and Collection Remedies
Chapter 582 Mortgages; Foreclosure, General Provisions
Section 582.31 One action allowed to enforce agricultural mortgage.
582.31 One action allowed to enforce agricultural mortgage.
(a) For a mortgage on property used in agricultural production entered into on or before March 22, 1986, the mortgagee may only proceed to:
(1) obtain a personal judgment for the debt owed on the note secured by the mortgage and execute on the judgment; or
(2) foreclose the mortgage and obtain a deficiency judgment, if allowed.
(b) An action under paragraph (a), either clause (1) or (2), bars an action under the other clause.
HIST: 1986 c 398 art 19 s 6
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