Minnesota § 550.16 - LEVY ON PLEDGED OR MORTGAGED CHATTELS
Full text of Minnesota Minnesota Statutes § 550.16 — LEVY ON PLEDGED OR MORTGAGED CHATTELS, with citation guidance and answers to common questions.
§ 550.16. LEVY ON PLEDGED OR MORTGAGED CHATTELS
When personal property is pledged or mortgaged for the payment of money or the performance of any contract or agreement, the right and interest of the pledgor or mortgagor in such property may be sold on execution against the pledgor or mortgagor, and the purchaser shall acquire all the pledgor's or mortgagor's right and interest therein, and be entitled to the possession of such property, on complying with the terms and conditions of the pledge or mortgage.
History:
(9301) 1913 c 63 s 1; 1955 c 220 s 1; 1986 c 444
Official Publication of the State of Minnesota
Revisor of Statutes
Source: official Minnesota text · Last verified 2026-08-27
Frequently Asked Questions About Minnesota § 550.16
What does Minnesota Statutes § 550.16 cover?
Section 550.16 ("LEVY ON PLEDGED OR MORTGAGED CHATTELS") 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 § 550.16?
A common citation format is "Minnesota Statutes § 550.16" (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 § 550.16 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.