Source: https://mn.gov/commerce/industries/securities/subdivided-land-and-time-shares/
Timestamp: 2019-04-26 08:35:24+00:00

Document:
It is unlawful to offer or sell a subdivided land interest in Minnesota unless that interest or contract is either registered or exempt from registration. As such, the Minnesota Department of Commerce-Securities Unit is responsible for the registration and regulation of the sale and marketing of subdivided land which includes lots, points, timeshares, and fractional share ownership of land in the State.
The law provides consumer protection to purchasers. Subdivided Land Laws are found in Minnesota Statute § 83 and Minnesota Rules 2810.
Prior to filing an application to register sell subdivided landing the State of Minnesota, it is highly recommended that you consult with an attorney specializing in Minnesota real estate law.
Before making any subdivided land offers or sales in Minnesota, projects are required to be registered or exempt under Minnesota Statute § 83.
The seller must submit an application found in Minnesota Rules 2810.9940. The documents require to be filed are disclosed in the application and in Minnesota Rules 2810. A fee of $150.00 is required.
The seller must submit an application found at Minnesota Rules 2810.9910 and a public offering statement found at Minnesota Rules 2810.9930. Minnesota will accept the public offering statement for out of state projects if the project has been approval by the state where the land is located and it is similar to the Minnesota form. Other documents required to be filed are disclosed in the application and elsewhere in Minnesota Rules 2810.
A filing fee of $400 plus an additional registration fee of $1 for each lot, unit, parcel, or interest included in the offering accompanies the application. The maximum initial registration fees shall in no event be more than $3,500.
Please see Minnesota Statute § 83.26 for a detailed list of subdivided land registration exemptions.
Please contact the Department of Commerce Securities Unit with questions.
Amendments may be submitted under Minnesota Statute § 83.31.
The fee for amendments is $25.
The seller should submit the amended documents in legislative format with the old language stricken with a line through it, and the new language inserted and underlined (only amended documents need to be submitted).
Sellers may not add inventory for additional sales by amendment.
Within 120 days of the sellers’ fiscal year end, an annual report must be filed under Minnesota Statute § 83.30.
For most sellers the deadline is May 1 of each year.
The form is in Minnesota Rules Minnesota Rules 2810.9950.
The fee is $75 for a registration by notification, and $150 for a registration by qualification.
Registrations by notification are not required to submit an annual report form, only the fee and a cover letter are required.
Under Minnesota Statute § 83.23 Subdivision 4 an applicant can add additional inventory.
For applications by qualification, there is an additional fee of $1 per potential added sale until the cap of $3,500 is met. After the maximum fee has been met, the fee is $50 each time inventory is added. The seller must update the application to reflect the additional inventory added. In addition, the seller must submit documentation that the new inventory meets the criteria of the Minnesota Statutes and Rules.
Prior to registering to sell subdivided land, in the State of Minnesota, it is highly recommended that you consult with an attorney specializing in Minnesota real estate law.

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