Minnesota has adopted legislation extending the sunset of the temporary exception for certain filings of mortgages and deeds of trust from Dec. 1, 2020, to June 30, 2022.
The bill, SF 1807, was introduced by Sen. Andrew Mathews, R-Princeton.
It amends Laws 2020, Chapter 118, Section 4 to state, “Notwithstanding Minnesota Statutes, section 507.327, the filing of the mortgage or deed of trust executed between May 1, 2020, and June 30, 2022, filed in the Office of the Secretary of State under Minnesota Statutes, Section 336B.02, along with, or as part of, the financing statement covering the fixtures, has the same effect, and is notice of the rights and interests of the mortgagee or trustee in easements, other less than fee simple interest in real estate, and fee simple interests in real estate to the same extent, as if the mortgage or deed of trust were duly recorded in the office of the county recorder or duly registered in the office of the registrar of titles of the counties in which the real estate is situated. The effectiveness of the filing terminates at the same time as provided in Minnesota Statutes, Section 336B.02, Subdivision 3, for the termination of the effectiveness of fixture filing. Any filing made in accordance with this section shall also be made with the office of the county recorder, or duly registered in the office of the registrar of titles, of the counties in which the real estate is situated.”
The bill will be effective retroactively from Dec. 30, 2020.