Minnesota § 582.31 ONE ACTION ALLOWED TO ENFORCE AGRICULTURAL MORTGAGE

Minnesota Statutes

§ 582.31 — ONE ACTION ALLOWED TO ENFORCE AGRICULTURAL MORTGAGE

Minnesota § 582.31

PartPOSTJUDGMENT REMEDIES; ALTERNATIVE DISPUTE RESOLUTION; BONDS

Ch. 582MORTGAGES; FORECLOSURE, GENERAL PROVISIONS

This text of Minnesota § 582.31 (ONE ACTION ALLOWED TO ENFORCE AGRICULTURAL MORTGAGE) 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. § 582.31 (2026).

Text

(a)For a mortgage on property used in agricultural production entered into on or before March 22, 1986, the mortgagee may only proceed to:

(1)obtain a personal judgment for the debt owed on the note secured by the mortgage and execute on the judgment; or

(2)foreclose the mortgage and obtain a deficiency judgment, if allowed.

(b)An action under paragraph (a), either clause (1) or (2), bars an action under the other clause.

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(a) For a mortgage on property used in agricultural production entered into on or before March 22, 1986, the mortgagee may only proceed to:
(1) obtain a personal judgment for the debt owed on the note secured by the mortgage and execute on the judgment; or
(2) foreclose the mortgage and obtain a deficiency judgment, if allowed.
(b) An action under paragraph (a), either clause (1) or (2), bars an action under the other clause.