Minnesota § 287.03 INSTRUMENTS VALID SECURITY FOR DEBT

Minnesota Statutes

§ 287.03 — INSTRUMENTS VALID SECURITY FOR DEBT

Minnesota § 287.03

PartPROPERTY TAXES

Ch. 287MORTGAGE REGISTRY TAX; DEED TAX

This text of Minnesota § 287.03 (INSTRUMENTS VALID SECURITY FOR DEBT) is published on Counsel Stack Legal Research, covering Minnesota primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Minn. Stat. § 287.03 (2026).

Text

No instrument, other than a decree of marriage dissolution or an instrument made pursuant to it, relating to real estate may be enforced as security for any debt, unless the fact that it is so intended is expressed in it. Except as provided in section287.05, an instrument may not be enforced as security for a debt amount in excess of:

(1)the initial known amount of the debt expressed in the instrument if the instrument secures that entire debt amount; or (2) the portion of the initial known amount of the debt expressed in the instrument if the instrument secures only a portion of that debt amount.

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No instrument, other than a decree of marriage dissolution or an instrument made pursuant to it, relating to real estate may be enforced as security for any debt, unless the fact that it is so intended is expressed in it. Except as provided in section287.05, an instrument may not be enforced as security for a debt amount in excess of: (1) the initial known amount of the debt expressed in the instrument if the instrument secures that entire debt amount; or (2) the portion of the initial known amount of the debt expressed in the instrument if the instrument secures only a portion of that debt amount.