Subdivision 1. No notice. A recital of the existence of an unrecorded mortgage in an instrument:
(1) that affects title to real property and
(2) is recorded with the county recorder of the county where the real property is located,
is not actual or constructive notice to a subsequent purchaser or encumbrancer once five years have passed since the date of the instrument containing the recital, unless the conditions in subdivision 2 are met.
Subd. 2. Notice. If, in the circumstances described in subdivision 1, an action to foreclose the unrecorded mortgage was commenced and a notice of pendency or notice of lis pendens was recorded during the five-year period, then, the recital is actual or constructive notice of the unrecorded mortgage to a subsequent purchaser or encumbrancer of the real property.
Subd. 3. Foreclosure period unaffected. This section does not limit or extend the period, set out in section 541.03, to bring an action to foreclose a mortgage.
Subd. 4. If lis pendens before March 1995. This section does not affect a proceeding to foreclose a mortgage pending on August 1, 1994, or to be commenced in a court of this state if, before March 1, 1995, a notice of lis pendens has been recorded in the office of the county recorder or filed in the office of the registrar of titles.
1943 c 180; 1947 c 626 s 1; 1976 c 181 s 2; 1994 c 388 art 1 s 5
Structure Minnesota Statutes
Chapters 500 - 515B — Property And Property Interests
Chapter 507 — Recording And Filing Conveyances
Section 507.01 — Conveyance And Purchaser.
Section 507.02 — Conveyances By Spouses; Powers Of Attorney.
Section 507.021 — Conveyances Recorded 15 Years Validated.
Section 507.03 — Purchase-money Mortgage; Nonjoinder Of Spouse.
Section 507.04 — Conveyance Of Protected Person's Real Property.
Section 507.05 — Conveyance By Corporation; Resolution Appointing Attorney.
Section 507.06 — Quitclaim Deed Passes All Estate Of Grantor.
Section 507.061 — Words Of Inheritance Not Needed.
Section 507.07 — Warranty And Quitclaim Deeds; Forms.
Section 507.071 — Transfer On Death Deeds.
Section 507.09 — Forms Approved; Amendments.
Section 507.091 — Conveyance To Include Name And Address Of Drafter.
Section 507.092 — Conveyance To Include Name And Address Of Person To Receive Tax Statements.
Section 507.093 — Standards For Documents To Be Recorded Or Filed.
Section 507.0941 — Definitions.
Section 507.0942 — Uniformity Of Application And Construction.
Section 507.0943 — Validity And Time Of Recording Of Electronic Documents.
Section 507.0944 — Recording Of Documents.
Section 507.0945 — Administration.
Section 507.0947 — Relation To Electronic Signatures In Global And National Commerce Act.
Section 507.0948 — Donations; Reimbursement.
Section 507.10 — Certified Copies Of Forms To Be Preserved.
Section 507.13 — Standard Forms Established.
Section 507.14 — Minnesota Uniform Conveyancing Blanks.
Section 507.15 — Uniform Short Form Mortgage; Equivalent Language.
Section 507.16 — No Covenants Of Title Implied.
Section 507.161 — Conveyance By Disseisee.
Section 507.17 — Conveyance Includes Abutting Vacated Public Right-of-way.
Section 507.18 — Prohibited Restrictions.
Section 507.19 — Conveyance By Tenant For Life Or Years; No Forfeiture.
Section 507.20 — Grantor To Make Known Encumbrance.
Section 507.21 — Liability Of Grantor Who Covenants Against Encumbrances.
Section 507.23 — Incomplete Conveyance, How Proven.
Section 507.235 — Filing Contracts For Deed.
Section 507.236 — Transfer Statement For Contract For Deed.
Section 507.24 — Recordable, When.
Section 507.25 — Certified Copy Of Record May Be Recorded.
Section 507.251 — Constructive Notice, When Not Affected.
Section 507.27 — Copy Of Will And Order Admitting To Probate.
Section 507.28 — Deeds Of Pews.
Section 507.29 — Affidavits As Evidence.
Section 507.31 — Railroad Lands.
Section 507.32 — Record, When Notice To Parties; Assignment Of Mortgage.
Section 507.325 — Mortgage Securing Revolving Line Of Credit; Notice.
Section 507.328 — Mortgages And Deeds Of Trust Of Pipeline Companies; Filing And Recording.
Section 507.33 — Certain Recitals Not To Constitute Notice Of Mortgage.
Section 507.331 — Certain Recitals Disregarded.
Section 507.332 — Whether Recorded Recital Of Unrecorded Mortgage Is Notice.
Section 507.34 — Unrecorded Conveyances Void In Certain Cases.
Section 507.35 — When Deed To Trustee Ineffective; Cure.
Section 507.36 — Instruments Relating To Timber, Minerals.
Section 507.38 — When Deed Not Defeated By Defeasance.
Section 507.40 — Mortgages, How Discharged.
Section 507.401 — Title Insurance Company; Mortgage Release Certificate.
Section 507.402 — Discharge Of Mortgage From Contract For Deed Seller.
Section 507.403 — Certificate Of Satisfaction; Release Or Partial Release Of Mortgage By Assignee.
Section 507.41 — Penalty For Failure To Discharge.
Section 507.411 — Corporate Change Noted In Assignment, Satisfaction, Or Release.
Section 507.412 — Satisfaction Or Release By Fewer Than All Mortgagees.
Section 507.413 — Authority Of Mortgagee Designated As Nominee Or Agent.
Section 507.42 — Certain Deeds Validated.
Section 507.421 — Estates And Trusts; Conveyances, Satisfactions, Grants, And Releases.
Section 507.422 — Certain County Conveyances Validated.
Section 507.45 — Residential Real Estate Closings.
Section 507.46 — Certificate Of Translation Of Documents In Foreign Languages.
Section 507.47 — Creation Of Servitudes By Common Owner.
Section 507.48 — Bona Fide Purchasers Protected.
Section 507.49 — Certificate Of Custodianship.
Section 507.50 — Affidavit Of Custodian In Real Property Transactions.