Minnesota § 508.491 - TRANSFER STATEMENT FOR CONTRACT FOR DEED
Full text of Minnesota Minnesota Statutes § 508.491 — TRANSFER STATEMENT FOR CONTRACT FOR DEED, with citation guidance and answers to common questions.
§ 508.491. TRANSFER STATEMENT FOR CONTRACT FOR DEED
Subdivision 1.Definition.
In this section, "transfer statement for a contract for deed" means a document that:
(1) is a transfer statement made in compliance with section 336.9-619(a); and
(2) transfers a seller's interest in an executory contract for the sale of land or of an interest in land that entitles the purchaser to possession of the land.
Subd. 2.Registration of statement.
A transferee under a transfer statement for a contract for deed is entitled to have the statement recorded as provided in section 336.9-619(b). The registrar shall enter a memorial of the statement on the certificate of title for the land in which the debtor has a registered interest.
Subd. 3.New certificate of title.
If a transferee under a transfer statement for a contract for deed has become the owner in fee of the land, or any part of it, the transferee may have the title registered. To do so, the transferee must petition the court for a new certificate of title to the land. On receiving the petition, the court shall notify the parties in interest and order a new certificate issued to the petitioner. The registrar shall issue a new certificate of title to the land, or the part of the land, the petitioner owns, as in the case of a voluntary conveyance.
Subd. 4.Financing statements.
A financing statement that is filed pursuant to section 336.9-502(b) need not contain: (1) the signatures of the debtor or the secured party; or (2) an acknowledgment, and must be filed with the registrar, and shown as a memorial on the certificate of title.
History:
Official Publication of the State of Minnesota
Revisor of Statutes
Source: official Minnesota text · Last verified 2026-08-27
Frequently Asked Questions About Minnesota § 508.491
What does Minnesota Statutes § 508.491 cover?
Section 508.491 ("TRANSFER STATEMENT FOR CONTRACT FOR DEED") is part of the Minnesota Statutes, the codified statutory law of Minnesota. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Minnesota § 508.491?
A common citation format is "Minnesota Statutes § 508.491" (Minnesota). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Minnesota law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Minnesota official source linked on this page or consult a licensed Minnesota attorney.
How does Minnesota § 508.491 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Minnesota can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Minnesota.