2000 Minnesota Code
Chapters 500 - 515B Property Interests and Liens
Chapter 507 Recording and Filing Conveyances
Section 507.03 Purchase-money mortgage; nonjoinder of spouse.
507.03 Purchase-money mortgage; nonjoinder of spouse.
When a married individual purchases real property during marriage and mortgages the real property to secure the payment of the purchase price or any portion of it, the other spouse shall not be entitled to any inchoate, contingent, or marital property right or interest in the real property as against the mortgagee or those claiming under the mortgagee even though the other spouse did not join in the mortgage. A statement in the mortgage to the effect that the mortgage is a purchase money mortgage constitutes prima facie evidence of that fact.
HIST: (8198) 1909 c 29 s 1; 1909 c 465 s 1; 1986 c 444; 1992 c 463 s 1
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