(a) Each notice shall specify or contain:
(1) the name of the mortgagor, the mortgagee, each assignee of the mortgage, if any, and the original or maximum principal amount secured by the mortgage;
(2) the date of the mortgage, and when and where recorded, except where the mortgage is upon registered land, in which case the notice shall state that fact, and when and where registered;
(3) the amount claimed to be due on the mortgage on the date of the notice;
(4) a description of the mortgaged premises, conforming substantially to that contained in the mortgage, and the commonly used street address of the mortgaged premises;
(5) the time and place of sale;
(6) the time allowed by law for redemption by the mortgagor, the mortgagor's personal representatives or assigns; and
(7) for mortgaged premises described in section 582.032, subdivision 1, the following statement in capital letters: "THE TIME ALLOWED BY LAW FOR REDEMPTION BY THE MORTGAGOR, THE MORTGAGOR'S PERSONAL REPRESENTATIVES OR ASSIGNS, MAY BE REDUCED TO FIVE WEEKS IF A JUDICIAL ORDER IS ENTERED UNDER MINNESOTA STATUTES, SECTION 582.032, DETERMINING, AMONG OTHER THINGS, THAT THE MORTGAGED PREMISES ARE IMPROVED WITH A RESIDENTIAL DWELLING OF LESS THAN FIVE UNITS, ARE NOT PROPERTY USED IN AGRICULTURAL PRODUCTION, AND ARE ABANDONED."
(b) If the real estate is an owner-occupied, single-family dwelling, the notice must also specify the date on or before which the mortgagor must vacate the property if the mortgage is not reinstated under section 580.30 or the property redeemed under section 580.23. The notice must state that the time to vacate the property is 11:59 p.m. on the specified date.
(9605) RL s 4460; 1967 c 248 s 1; 1986 c 444; 1989 c 328 art 3 s 6; 1Sp1989 c 2 s 6; 2004 c 234 s 3; 2009 c 123 s 6; 2009 c 130 s 6
Structure Minnesota Statutes
Chapters 570 - 583 — Postjudgment Remedies; Alternative Dispute Resolution; Bonds
Chapter 580 — Mortgages; Foreclosure By Advertisement
Section 580.02 — Requisites For Foreclosure.
Section 580.021 — Foreclosure Prevention Counseling.
Section 580.025 — Foreclosure Data.
Section 580.03 — Notice Of Sale; Service On Occupant.
Section 580.032 — Request For Notice; Mailed Notice.
Section 580.033 — Where Notice Published.
Section 580.04 — Requisites Of Notice.
Section 580.041 — Foreclosure Advice And Redemption Rights Notice To Owners.
Section 580.042 — Foreclosure Advice Notice To Tenant.
Section 580.045 — Record Owner With No Financial Interest.
Section 580.05 — Attorney To Foreclose; Record Of Power.
Section 580.06 — Sale, How And By Whom Made.
Section 580.07 — Postponement.
Section 580.08 — Separate Tracts.
Section 580.09 — Foreclosure Of Installment; Sale; Proceeds; Redemption.
Section 580.11 — Mortgagee Or Assignee May Purchase.
Section 580.12 — Certificate Of Sale; Record; Effect.
Section 580.13 — Premises In More Than One County; Record.
Section 580.14 — Execution After Expiration Of Term.
Section 580.15 — Perpetuating Evidence Of Sale.
Section 580.17 — Affidavit Of Costs.
Section 580.18 — Excessive Costs Or Interest.
Section 580.19 — Certificate As Evidence.
Section 580.20 — Action To Set Aside For Certain Defects.
Section 580.21 — Action To Set Aside Sale; Limitation.
Section 580.22 — Interest Of Purchaser; Attachment Or Judgment.
Section 580.225 — Satisfaction Of Judgment.
Section 580.23 — Redemption By Mortgagor; Affidavit Of Nonagricultural Use; Waiver.
Section 580.24 — Redemption By Creditor.
Section 580.25 — Redemption, How Made.
Section 580.26 — Certificate Of Redemption; Record.
Section 580.27 — Effect Of Redemption.
Section 580.28 — Action To Set Aside Mortgage; Foreclosure; Redemption.
Section 580.29 — Holder Of Junior Mortgage May Pay Default In Prior Mortgage.