Minnesota Statutes
Chapter 325N — Mortgage Foreclosures
Section 325N.14 — Notice Of Cancellation.

(a) The contract must contain in immediate proximity to the space reserved for the owner's signature a conspicuous statement in a size equal to at least 14-point boldface type, if the contract is printed, or in capital letters, if the contract is typed, as follows:
The equity purchaser shall accurately enter the date and time of day on which the cancellation right ends.
(b) The contract must be accompanied by a completed form in duplicate, captioned "notice of cancellation" in a size equal to a 12-point boldface type if the contract is printed, or in capital letters, if the contract is typed, followed by a space in which the equity purchaser shall enter the date on which the owner executes the contract. This form must be attached to the contract, must be easily detachable, and must contain in type of at least 10 points, if the contract is printed or in capital letters if the contract is typed, the following statement written in the same language as used in the contract:
(c) The equity purchaser shall provide the owner with a copy of the contract and the attached notice of cancellation at the time the contract is executed by all parties.
(d) The five business days during which the owner may cancel the contract must not begin to run until all parties to the contract have executed the contract and the equity purchaser has complied with this section.
2004 c 263 s 14,26; 2007 c 106 s 8,22; 2008 c 341 art 5 s 23; 2021 c 7 s 19

Structure Minnesota Statutes