§ 583.03

Christopherson v. Federal Land Bank of St. Paul · 1986 1 citation

The record is not disputed and indicates that the relators conveyed a first mortgage on their farm property to the respondent Federal Land Bank of St. Paul on January 19, 1981 and a second mortgage on the same property to the Production Credit Association of Grand Porks on April 17, 1984. When Federal commenced mortgage foreclosure proceedings upon the relators’ default, the Christophersons sought the protection of the Minnesota Mortgage Moratorium Act to postpone the foreclosure on mortgaged homestead property for up to one year. Minn. Stat. §§ 583.01-12 (1984). The trial court denied relief relying upon the exclusion contained in Minn. Stat. § 583.03, subd. 2(3) (Supp.1985). That clause states that sections 583.01-.12 (the moratorium provisions) are inapplicable to “mortgages, judgments, or contracts for deed, regardless of when made, if a second or subsequent mortgage is made against the property after May 24, 1983.” Id.

Commercial State Bank v. Matt · 1986 3 citations

+ 3 more citations in this opinion.