St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1889-05-07
81.

81.
Il. F. No. 172-AN ACT to provide for the
mortgaging Of lands by executors and adr
ministrators.
Be 1t enacted by the Legislature OF the Stats
of Minnesota:
SECTION L. When the personsI estate Of
deceased person is insufficient to pay his
debts, with the charges Of administration
and to pay any taxes, assessments or other
charges which are an existing lien upon hip
estate; or whenever the personal estate OF
such deceased person is insufficient to pay
ior any improvements which are necessary
Tor the preservation Of his real estate or any
part thereof, his executor or administrator
may mortgage his real estate for the purpose
OF obtaining funds for the payment Of such
debts. charges. taxes, assessments or liens, or
for the making Of such necessary improve
ments, upon obtaining license therefor, and
proceeding as herein provided.
Sec 2. To obtain such license the execu-
tor or administrator shall proceed in the man.
ner now provided by law for the obtaining Of
license to sell real estate, and In his petit
ton the executor or administrator shall par
ticularly describe the tract or tracts which 10
is proposed TO mortgage.
SEC. 3. Whenever it appears to the satiBs
faction Of the probate court that it is neces.
sary for an executor or administrator TO
mortgage real estate for any of the purposes
aforesaid, and that it will be for the benefit
OF all persons interested such license shall
be granted, and the decree Of the court In
granting such license shall fix the amount
for which the mortgage may be given, and
the rate of interest which may DO paid
thereon, and for what purposes the money
shall be used.
SEC. 4. The probate court may in HE
manner authorize an executor or adminiStra-
tor to make an agreement for the extension
or the renewal Of an existing mortgage On
the estate of deceased person.
SEC. 5. No license to mortgage real estate
shall be granted to an executor or adm1nistres
tor until he shall have executed and filed With
TO- .I1t1 e. l. h. IA In
pending, bond with sufficient sureties to BE-
approved by the probate judge, conditional
that he will apply the funds realized by such
mortgage to the purposes specified In the do
cree of the court.
SEC 6. This act shall take effect and b
In force from and after its passage.
Approved April %, 1889.
SO.
Il. +. No. 1s6-AN ACT to legalize certain
conveyances Of land within this state with.
out any subscribing witnesses, and without
the power OF attorney OF person executing
the same or any part thereof being At
tached.
Be it enacted by the Legislature Of the State
of Minnesota:
SECTION 1. That no deed or conveyance Of
land within this state heretofore executed,
either under the laws Of the territory Of MIN
nesota OF under the laws of the State Of Min
nesota, or under the laws Of any state or ter.
ritory, shall be deemed invalid by reason Of
not having the signature Of any subscribing
witness thereto, and the power OF attorney
OF the person or persons executing the same
is not attached thereto and the same has
been executed for more than twenty years.
but they are hereby legalized and made
valid, as though executed in all respects in
accordance with the laws OF said territories
or states, and if otherwise properly acknowl-
edged and executed, shall be entitled to be
recorded in the Office of the register Of deeds
Of the county where said land is situated the
fhnnph IL had the SIGNATURES nj two
subscribing witnesses, and the record thereof
shall be as effectual for all purposes a.
though said deed or conveyance had been
executed with two subscribing witnesses,
and the power Of attorney Of the person exc.
cutting the same or any part thereof was ~
tached thereto. y
Provided, That nothing herein contained
shall in any manner effect the rights or title
for valuable consideration OF any such real
estate prior to the passage Of this act, and
shall not apply to or effect any action OK pro;
state.
SEC. 2. The register Of deeds Of said Mower
county is hereby authorized and directed e
record said indenture or deed in the records
Of said county as fully and with the sans
effect as though duly witnessed and In Ill
other respects duly executed. {
Sec. 3. This act shall take effect and b In
force from and after its passage.
Approved April %, 1889. :
50.
Il. F. No. 2s5-AN ACT limiting the Cine
within which mortgage foreclosure sales
may be called In question.
Be it enacted by the Legislature OF the State
of Minnesota:
SECTION 1. That no foreclosure heretofore
or hereafter made by the mortgage, his legal
representatives, or assigns. Of any mortgage
on real property within the limits Of this
state shall be adjudged invalid or be set
aside, unless the action in which the validity
of such foreclosure is called in question DO
commenced or the defence alleging IT. In.
validity be interposed within twenty years
from date of the foreclosure sale: Provided,
That persons who, at the time Of such fore
closure sale, were under disability to sue by
reason of being minors, insane persons
| idiots or ain captivity, may commence such
action or interpose such defence at any
time within five ~ years after removal OF
such disability; Provided further, THAT
such actions shall be commenced with rea-
sonable diligence in all cases; Provided,
That this act shall not effect or prejudice the
rights of any bona fide purchaser, nor apply
to any action or proceeding now pending in
any court Of this state; and provided
further, That nothing contained in this act
shall be understood as intended to repeal
chapter one hundred and twelve Of the Gen.
eral Laws Of Minnesota for 1883, or any part
thereof.
SEC. g This act shall take effect and be In
force from and after the first day Of January
4. D. 1890.