Minnesota § 41B.037 HOMESTEAD REDEMPTION PROGRAM

Minnesota Statutes

§ 41B.037 — HOMESTEAD REDEMPTION PROGRAM

Minnesota § 41B.037

PartAGRICULTURE

Ch. 41BRURAL FINANCE AUTHORITY

This text of Minnesota § 41B.037 (HOMESTEAD REDEMPTION PROGRAM) 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. § 41B.037 (2026).

Text

The authority may establish and implement a homestead redemption program under sections41B.01to41B.23. The purpose of the program is to assist persons who have lost their farms due to foreclosure, granting a deed in lieu of foreclosure, or other actions necessary to settle their agricultural debts, and who are otherwise unable to secure the credit necessary to repurchase their farm homestead. The authority may enter into agreements with an eligible lender for the purposes of the program. The authority may, by rule, establish eligibility standards for the program that are different from those established for other programs of the authority. The authority's interest in a homestead redemption loan may not exceed one-half of the loan amount or $25,000, whichever is less.

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The authority may establish and implement a homestead redemption program under sections41B.01to41B.23. The purpose of the program is to assist persons who have lost their farms due to foreclosure, granting a deed in lieu of foreclosure, or other actions necessary to settle their agricultural debts, and who are otherwise unable to secure the credit necessary to repurchase their farm homestead. The authority may enter into agreements with an eligible lender for the purposes of the program. The authority may, by rule, establish eligibility standards for the program that are different from those established for other programs of the authority. The authority's interest in a homestead redemption loan may not exceed one-half of the loan amount or $25,000, whichever is less.