When any sale of real property is made under a power of sale contained in any mortgage, the officer shall make and deliver to the purchaser a certificate, executed in the same manner as a conveyance, containing:
(1) a description of the mortgage;
(2) a description of the property sold;
(3) the price paid for each parcel sold;
(4) the time and place of the sale, and the name of the purchaser;
(5) the interest rate in effect on the date of the sheriff's sale; and
(6) the time allowed by law for redemption, provided that if the redemption period stated in the certificate is five weeks and a longer redemption period was stated in the published notice of foreclosure sale, a certified copy of the court order entered under section 582.032, authorizing reduction of the redemption period to five weeks, must be attached to the certificate.
A certificate which states a five-week redemption period must be recorded within ten days after the sale; any other certificate must be recorded within 20 days after the sale. When so recorded, upon expiration of the time for redemption, the certificate shall operate as a conveyance to the purchaser or the purchaser's assignee of all the right, title, and interest of the mortgagor in and to the premises named therein at the date of such mortgage, without any other conveyance. A certificate must not contain a time allowed for redemption that is less than the time specified by section 580.23, 582.032, or 582.32, whichever applies.
(9613) RL s 4468; 1986 c 444; 1989 c 328 art 3 s 7; 1994 c 388 art 1 s 6; 2008 c 341 art 5 s 14
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.