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Committee approves amendment and sends contract-for-deed technical fix to Senate floor
Summary
The Judiciary Committee adopted an author’s amendment and recommended Senate File 505, technical corrections and limited exemptions to the ‘‘investor seller’’ contract-for-deed law passed last year, be sent to the Senate floor.
Senate File 505, a technical and clarifying bill amending aspects of last year’s contract-for-deed reforms, was considered and recommended to the Senate floor by the Minnesota Senate Judiciary Committee on Feb. 17.
Senator Mohammed introduced the author’s A1 amendment at the start of the hearing; the committee adopted the amendment by voice vote. The bill’s sponsors said the bill is largely technical — correcting typographical errors, adjusting effective dates and adding two substantive exemptions: sales by the state or political subdivisions (for example, tax-forfeited sales) and sales by a sole-owner LLC whose owner is a natural person.
Testimony and stakeholders: Ron Elwood of Legal Aid and Larry Wertheim (testifying on the…
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