Minnesota § 510.02 - AREA AND VALUE; HOW LIMITED
Full text of Minnesota Minnesota Statutes § 510.02 — AREA AND VALUE; HOW LIMITED, with citation guidance and answers to common questions.
§ 510.02. AREA AND VALUE; HOW LIMITED
Subdivision 1.Exemption.
The homestead may include any quantity of land not exceeding 160 acres. The exemption per homestead, whether the exemption is claimed by one or more debtors, may not exceed $510,000 or, if the homestead is used primarily for agricultural purposes, $1,275,000, exclusive of the limitations set forth in section 510.05.
Subd. 2.Adjustment of dollar amounts.
The dollar amounts in subdivision 1 must change periodically in the manner provided for under section 550.37, subdivision 4a. The commissioner of commerce shall include the changes in the dollar amounts as part of the announcement and publication made under those provisions.
History:
(8337) RL s 3453; 1907 c 335 s 1; 1969 c 414 s 1; 1973 c 123 art 5 s 7; 1986 c 398 art 16 s 1; 1993 c 79 s 2; 2007 c 105 s 2; 2007 c 106 s 11; 2013 c 135 art 2 s 8
Official Publication of the State of Minnesota
Revisor of Statutes
Frequently Asked Questions About Minnesota § 510.02
What does Minnesota Statutes § 510.02 cover?
Section 510.02 ("AREA AND VALUE; HOW LIMITED") 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 § 510.02?
A common citation format is "Minnesota Statutes § 510.02" (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 § 510.02 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.