MN

Registry entries (prose)

Sale typeWhat you actually buy. A lien sale gives you a claim on the property and the owner keeps it for now; a deed sale transfers the property itself. A redeemable deed transfers ownership but still gives the former owner time to pay you back. See the full glossary for more terms.

redeemable deed

Minn. Stat. § 280.03

Interest / penaltyWhat you earn when the owner redeems. Interest is a rate paid over time; a penalty is usually a one-time percentage of the tax or redemption amount. A rate that is bid down during the auction is still interest. See the full glossary for more terms.

interest bid down at sale; capped at 12%/yr

Minn. Stat. § 280.02

RedemptionHow long the former owner has to repay the debt and keep the property after the sale. Your money stays tied up until this window closes, so a long period can mean a multi-year wait on a lien. See the full glossary for more terms.

3 years (1 year for targeted community)

Minn. Stat. § 281.17(a)-(b)

Bid methodHow the winner is chosen: bidding the interest rate down, bidding a premium above the amount owed, a random or rotating draw, or simply buying at the minimum bid. See the full glossary for more terms.

public vendue; bid down to lowest rate of interest (max 12%); state bids in if no bidder

Minn. Stat. § 280.02

Sale timingWhen sales are typically held. Many counties publish sale lists only a few weeks ahead, and some sell continuously or on their own schedule. See the full glossary for more terms.

second Monday in May

Minn. Stat. § 280.01

Source

https://www.revisor.mn.gov/statutes/cite/280.03

Lands sold to state at tax judgment sale.

Counties (87)