A railroad interest that is in bankruptcy proceedings may not sell or offer for sale an interest in real property that is within the right-of-way, a railroad interest that is abandoning a railroad line may not sell or offer for sale an interest in real property within the right-of-way to be abandoned, and a nonrailroad lessor may not sell or offer for sale an interest in real property within the right-of-way with respect to which it is a nonrailroad lessor, unless it first extends a written offer to sell that interest at a fair market value price to each person who is a leaseholder with respect to the property. Leaseholders must respond to the offer within 60 days of receipt of the notice and the railroad interest must negotiate in good faith with an interested leaseholder for a period of 90 days following the leaseholder's response. The property may not be sold to a party other than the leaseholder during the response and negotiation periods. This section does not apply to a sale of an entire operating railroad line by one operating railroad to another for the purpose of operating a railroad.
1986 c 398 art 14 s 2; 1989 c 212 s 2; 1998 c 403 s 29; 2001 c 213 s 27
Structure Minnesota Statutes
Chapter 222 — Railroad Commerce And Property
Section 222.01 — Air Rights Affecting Public Service Company.
Section 222.025 — Right-of-way, Easement, Procedure.
Section 222.05 — Municipal Transfer Of Public Land.
Section 222.26 — Right-of-way Over Public Way.
Section 222.27 — Power To Acquire Property.
Section 222.29 — Contractor's Bond; Liability Of Company.
Section 222.30 — Liability Of Company After Notice.
Section 222.33 — Office In State.
Section 222.34 — Land Grant Railroad Company.
Section 222.36 — Power Of Eminent Domain In Certain Cases.
Section 222.37 — Public Road; Use, Restriction.
Section 222.46 — Rail Service Improvement Act; Purpose.
Section 222.49 — Rail Service Improvement Accounts; Appropriation.
Section 222.50 — Rail Service Improvement Program.
Section 222.51 — Participation By Political Subdivision.
Section 222.52 — Cooperation Between States.
Section 222.53 — Acceptance Of Federal Money.
Section 222.54 — Access To Information.
Section 222.545 — Advocacy Of Improved Service.
Section 222.55 — Rail User And Rail Carrier Loan Guarantee Program; Purpose.
Section 222.57 — Rail User And Rail Carrier Loan Guarantee Account.
Section 222.58 — Insurance Of Loan.
Section 222.59 — Investment Of Funds.
Section 222.60 — Maximum Amount Of Insurance Issued.
Section 222.62 — Cooperation Of Other State Agencies.
Section 222.63 — Abandoned Right-of-way; State Rail Bank.
Section 222.631 — Definitions.
Section 222.632 — Right Of First Refusal.
Section 222.64 — Employment Preference.
Section 222.86 — Acquisition Reporting And Disclosure.