If an owner creates a security interest in a vehicle:
(a) The owner shall immediately execute the application in the space provided therefor on the certificate of title, or in a format the department prescribes, to name the secured party on the certificate, showing the name and address of the secured party, and cause the certificate, application, and the required fees and taxes to be delivered to the secured party.
(b) The secured party shall immediately cause the certificate, application, and the required fees and taxes to be mailed or delivered to the department.
(c) A second or subordinate secured party does not affect the rights of the first secured party under a security agreement.
(d) Upon receipt of the certificate of title, application, and the required fees and taxes, the department shall issue a new certificate containing the name and address of the new secured party, and mail or deliver the certificate to the owner. The secured party or parties shall be notified that the security interest has been recorded.
1971 c 162 s 18; 1986 c 444; 1989 c 148 s 11; 2002 c 371 art 1 s 24
Structure Minnesota Statutes
Chapters 160 - 174A — Transportation
Section 168A.01 — Definitions.
Section 168A.02 — Application; Registration And Renewal.
Section 168A.03 — Exempt Vehicles.
Section 168A.04 — Form And Content Of Application.
Section 168A.05 — Certificate Of Title.
Section 168A.06 — Delivery Of Certificate.
Section 168A.07 — Conditional Registration.
Section 168A.08 — Grounds For Refusal To Issue Certificate.
Section 168A.085 — Application For Title Or Registration, Certain Cases.
Section 168A.09 — Duplicate Certificate.
Section 168A.10 — Transfer Of Interest By Owner.
Section 168A.101 — Cancellation Of Motor Vehicle Sale.
Section 168A.11 — Purchase Of Vehicle By Dealer.
Section 168A.12 — Interest Passing By Nonvoluntary Transfer.
Section 168A.125 — Transfer-on-death Title To Motor Vehicle.
Section 168A.13 — Fee Accompanies Application; Delivery Of Registration Card And Plates.
Section 168A.14 — New Certificates Issued, Old Certificates Surrendered.
Section 168A.1411 — Manufactured Home Affixed To Real Property Owned By Cooperative.
Section 168A.1412 — Manufactured Home Affixed To Real Property.
Section 168A.142 — Manufactured Home Unaffixed From Realty.
Section 168A.143 — Manufactured Homes; Ownership At Issue.
Section 168A.15 — Reconstructed, Scrapped, Dismantled, Or Destroyed Vehicle.
Section 168A.1501 — Scrapped, Dismantled, Or Destroyed Vehicle.
Section 168A.151 — Salvage Title; Junking Certificate.
Section 168A.152 — Use And Certification Of Title; Inspection Fee.
Section 168A.153 — Report Of Vehicle Receipt.
Section 168A.154 — Salvage Vehicle Taken Out Of State.
Section 168A.16 — Inapplicable Lien Or Security Interest.
Section 168A.17 — Security Interest.
Section 168A.172 — Charitable Interest.
Section 168A.18 — Duties Of Parties Relating To Security Interest.
Section 168A.19 — Assignment Of Security Interest.
Section 168A.20 — Satisfaction Of Security Interest.
Section 168A.21 — Disclosure Of Security Interest.
Section 168A.22 — Exclusive Method Of Perfecting Security Interest.
Section 168A.23 — Suspension Or Revocation Of Certificate.
Section 168A.24 — Duties And Powers Of Department.
Section 168A.25 — Review By District Court.