2014 Minnesota Statutes
Chapters 500 - 515B — PROPERTY AND PROPERTY INTERESTS
Chapter 500 — ESTATES IN REAL PROPERTY
Section 500.25 — RIGHTS OF FARM TENANTS ON TERMINATION OF LIFE ESTATES.
For the purposes of this section, "farm tenancy" is a tenancy involving 40 or more acres of tillable land or crop land rented for agricultural purposes.
§ Subd. 2. Continuation of tenancy.Upon the death of a life tenant between March 2 and the following October 31, a farm tenancy granted by the life tenant shall continue until the earlier of the following March 1, the completion of harvest, or the expiration of the lease by its terms. If a life tenant dies between November 1 and the following March 1, the farm tenancy shall continue for the following crop year and shall terminate on the earlier of the March 1 following that crop year, the completion of harvest, or the expiration of the lease by its terms. However, if the lease is binding upon the remainderperson by specific commitment of the remainderperson, the lease shall terminate as provided by that commitment.
§ Subd. 3. Rental value.A remainderperson who is required by subdivision 2 to continue a tenancy shall be entitled to a rental amount equal to the prevailing fair market rental amount in the area. If the parties cannot agree on a rental amount, either party may petition the district court for a declaratory judgment setting the rental amount. The costs of the action shall be apportioned between the parties by the court.
History:1981 c 370 s 1; 1986 c 444
Copyright © 2014 by the Revisor of Statutes, State of Minnesota. All rights reserved.
Disclaimer: These codes may not be the most recent version. Minnesota may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
