Minnesota § 515A.4-108 515A.4-108 ESCROW OF DEPOSITS.

Minnesota Statutes

§ 515A.4-108 — 515A.4-108 ESCROW OF DEPOSITS.

Minnesota § 515A.4-108

PartPROPERTY AND PROPERTY INTERESTS

Ch. 515AUNIFORM CONDOMINIUM ACT

This text of Minnesota § 515A.4-108 (515A.4-108 ESCROW OF DEPOSITS.) 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. § 515A.4-108 (2026).

Text

Any earnest money paid in connection with the purchase or reservation of a unit from a declarant shall be escrowed and held in this state in an account, savings deposit or certificate of deposit designated solely for that purpose in an institution whose accounts are insured by a governmental agency or instrumentality until (1) delivered to the declarant at closing;

(2)delivered to the declarant because of purchaser's default under the purchase agreement or reservation; or (3) delivered to the purchaser.

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Any earnest money paid in connection with the purchase or reservation of a unit from a declarant shall be escrowed and held in this state in an account, savings deposit or certificate of deposit designated solely for that purpose in an institution whose accounts are insured by a governmental agency or instrumentality until (1) delivered to the declarant at closing; (2) delivered to the declarant because of purchaser's default under the purchase agreement or reservation; or (3) delivered to the purchaser.