2005 Minnesota Statutes - 504B.151 — Restriction on residential lease terms for buildings in financial distress.

     504B.151 Restriction on residential lease terms for 
  buildings in financial distress. 


    Once a landlord has received notice of a contract for deed 
 cancellation under section 559.21 or notice of a mortgage 
 foreclosure sale under chapter 580 or 582, the landlord may 
 enter into a periodic residential lease agreement with a term of 
 two months or less or a fixed term residential tenancy not 
 extending beyond the cancellation period or the landlord's 
 period of redemption until: 


    (1) the contract for deed has been reinstated or paid in 
 full; 


    (2) the mortgage default has been cured and the mortgage 
 reinstated; 


    (3) the mortgage has been satisfied; 


    (4) the property has been redeemed from a foreclosure sale; 
 or 


    (5) a receiver has been appointed. 


    This section does not apply to a manufactured home park as 
 defined in section 327C.01, subdivision 5. 


    HIST: 1999 c 199 art 1 s 11