reglab/housing_qa huggingface dataset:
MN Stat § 500.17 (2021)
2021 Minnesota Statutes|Chapters 500 - 515B — Property And Property Interests|Chapter 500 — Estates In Real Property|Section 500.17 — Future Estates; Rents And Profits.

500.17 FUTURE ESTATES; RENTS AND PROFITS. Subdivision 1. Disposal; rules governing. Dispositions of the rents and profits of lands, to accrue and be received at any time subsequent to the execution of the instrument creating such disposition, shall be governed by the rules established in this chapter in relation to future estates in lands. Subd. 2. Accumulation. Where the controlling will or other written instrument permits accumulation, either expressly or by necessary implication, income from personal property and rents and profits from real estate may be accumulated for the period during which the power of alienation may be suspended by future interests in real or personal property not held in trust under section 501C.1202, subdivision 3. Where any will or other instrument authorizes accumulation beyond the period permissible under this section, such authorization shall be void only as to the excess period. Reasonable sums set aside for depreciation and depletion shall not be deemed an accumulation within the meaning of this section. Subd. 3.  [Repealed, 1965 c 682 s 2] Subd. 4. Support of minor beneficiaries. When such rents and profits are directed to be accumulated for the benefit of infants entitled to the expectant estate, and such infants are destitute of other sufficient means of support and education, the district court, upon the application of their guardian, may direct a suitable sum, out of such rents and profits, to be applied to their maintenance and education. Subd. 5. Ownership if alienation suspended. When, in consequence of a valid limitation of an expectant estate, there is a suspension of the power of alienation, or of ownership, during the continuance of which the rents and profits are undisposed of, and no valid direction for their accumulation is given, such rents and profits shall belong to the person presumptively entitled to the next eventual estate. Subd. 6. Trustee's accumulation of rents, profits of realty. The provisions of this section shall not apply to the accumulations of rents and profits of real estate held or owned by a trustee or trustees of a trust forming a part of a stock bonus, pension, retirement or profit-sharing plan or fund exempt from tax under the provisions of the Internal Revenue Code of the United States, and rents and profits of real estate held or owned by any such trustee or trustees may be accumulated without restriction as to time. History:  (8066, 8067, 8068, 8069, 8070) RL s 3225, 3226, 3227, 3228, 3229; 1953 c 424 s 1; 1965 c 682 s 1; 1987 c 60 s 9; 1989 c 340 art 1 s 73; 2015 c 5 art 15 s 5
MN Stat § 500.18 (2021)
2021 Minnesota Statutes|Chapters 500 - 515B — Property And Property Interests|Chapter 500 — Estates In Real Property|Section 500.18 — Commencement Of Expectant Estates.

500.18 COMMENCEMENT OF EXPECTANT ESTATES. The delivery of the grant, where an expectant estate is created by grant, and, where it is created by devise, the death of the testator, shall be deemed the time of the creation of the estate. History:  (8071) RL s 3230
MN Stat § 500.19 (2021)
2021 Minnesota Statutes|Chapters 500 - 515B — Property And Property Interests|Chapter 500 — Estates In Real Property|Section 500.19 — Division.

500.19 DIVISION. Subdivision 1. According to number. Estates, in respect to the number and connection of their owners, are divided into estates in severalty, in joint tenancy, and in common; the nature and properties of which, respectively, shall continue to be such as are now established by law, except so far as the same may be modified by the provisions of this chapter. Subd. 2. Construction of grants and devises. All grants and devises of lands, made to two or more persons, shall be construed to create estates in common, and not in joint tenancy, unless expressly declared to be in joint tenancy. This subdivision shall not apply to mortgages, nor to devises or grants made in trust, or to executors. Subd. 3. Joint tenancy requirements abolished. The common law requirement for unity of time, title, interest, and possession in the creation of a joint tenancy is abolished. Subd. 4. Conveying interest directly. (a) Subject to section 507.02 specifying when both spouses must join in a conveyance of their homestead, one or more owners of an interest in real estate may convey all or part of the interest directly to one or more other persons or to one or more of themselves, or to any combination of one or more of themselves and other persons. (b) Subject to section 507.02 specifying when both spouses must join in a conveyance of their homestead, conveyances between spouses are allowed under paragraph (a) to the same extent as those between unmarried persons. Subd. 5. Severance of estates in joint tenancy. A severance of a joint tenancy interest in real estate by a joint tenant shall be legally effective only if (1) the instrument of severance is recorded in the office of the county recorder or the registrar of titles in the county where the real estate is situated; or (2) the instrument of severance is executed by all of the joint tenants; or (3) the severance is ordered by a court of competent jurisdiction; or (4) a severance is effected pursuant to bankruptcy of a joint tenant. A decree of dissolution of a marriage severs all joint tenancy interests in real estate between the parties to the marriage, except to the extent the decree declares that the parties continue to hold an interest in real estate as joint tenants. History:  (8073, 8074) RL s 3232, 3233; 1979 c 123 s 1-4; 1986 c 444; 1987 c 26 s 2; 1990 c 575 s 4; 1994 c 388 art 1 s 3
MN Stat § 500.21 (2021)
2021 Minnesota Statutes|Chapters 500 - 515B — Property And Property Interests|Chapter 500 — Estates In Real Property|Section 500.21 — Application To Ground Lease.

500.21 APPLICATION TO GROUND LEASE. The provisions of sections 500.16 and 500.20 shall not apply to so-called ground leases providing for the construction by the lessee of buildings or other structures upon the lands of the lessor. History:  (8075-1) 1937 c 487 s 3
MN Stat § 500.215 (2021)
2021 Minnesota Statutes|Chapters 500 - 515B — Property And Property Interests|Chapter 500 — Estates In Real Property|Section 500.215 — Limits On Certain Residential Property Rights Prohibited; Flag Display.

500.215 LIMITS ON CERTAIN RESIDENTIAL PROPERTY RIGHTS PROHIBITED; FLAG DISPLAY. Subdivision 1. General rule. (a) Any provision of any deed restriction, subdivision regulation, restrictive covenant, local ordinance, contract, rental agreement or regulation, or homeowners association document that limits the right of an owner or tenant of residential property to display the flag of the United States and the flag of the State of Minnesota is void and unenforceable. (b) "Homeowners association document" includes the declaration, articles of incorporation, bylaws, and rules and regulations of: (1) a common interest community, as defined in section 515B.1-103(10), regardless of whether the common interest community is subject to chapter 515B; and (2) a residential community that is not a common interest community, as defined in section 515B.1-103(10). Subd. 2. Exceptions. (a) This section does not prohibit limitations narrowly tailored to protect health or safety. (b) This section does not prohibit limitations that restrict: (1) the size of the flag to be displayed to a size customarily used on residential property; (2) the installation and display of the flag to a portion of the residential property to which the person who displays the flag has exclusive use; or (3) illuminating the flag. (c) This section does not prohibit a requirement that the flag be displayed in a legal manner under Minnesota law, that the flag be in good condition and not altered or defaced, or that the flag not be affixed in a permanent manner to that portion of property to be maintained by others or in a way that causes more than inconsequential damage to others' property. A person who causes damage is liable for the repair costs. Subd. 3. Applicability. This section applies to all limitations described in subdivision 1 and not excepted in subdivision 2, regardless of whether adopted before, on, or after August 1, 2005. Subd. 4. Recovery of attorney fees. If an owner or tenant of residential property is denied the right provided by this section, the owner or tenant is entitled to recover, from the party who denied the right, reasonable attorney fees and expenses if the owner or tenant prevails in enforcing the right. If a flag is installed or displayed in violation of enforceable restrictions or limitations, the party enforcing the restrictions or limitations is entitled to recover, from the party displaying the flag, reasonable attorney fees and expenses if the enforcing party prevails in enforcing the restrictions or limitations. History:  2005 c 168 s 1; 2015 c 21 art 1 s 94
MN Stat § 500.222 (2021)
2021 Minnesota Statutes|Chapters 500 - 515B — Property And Property Interests|Chapter 500 — Estates In Real Property|Section 500.222 — Exempt Acreage In Land Exchange.

500.222 EXEMPT ACREAGE IN LAND EXCHANGE. A local unit of government may exchange a parcel of land owned by it or acquired for it by a qualified intermediary, for a parcel of agricultural real estate that is owned by an individual exempt under section 500.221 based on ownership being lawfully acquired prior to June 1, 1981. The agricultural land being exchanged for the parcel that is currently exempt shall also be exempt under section 500.221 as if it had been purchased by the owner prior to June 1, 1981. The exchanged parcel shall have exactly the same status under section 500.221 as the parcel to be exchanged and the status may be stated on the deeds used to effectuate the transaction. History:   2002 c 373 s 32
MN Stat § 500.25 (2021)
2021 Minnesota Statutes|Chapters 500 - 515B — Property And Property Interests|Chapter 500 — Estates In Real Property|Section 500.25 — Rights Of Farm Tenants On Termination Of Life Estates.

500.25 RIGHTS OF FARM TENANTS ON TERMINATION OF LIFE ESTATES. Subdivision 1. Definition. For the purposes of this section, "farm tenancy" is a tenancy involving 40 or more acres of tillable land or crop land rented for agricultural purposes. Subd. 2. Continuation of tenancy. Upon the death of a life tenant between March 2 and the following October 31, a farm tenancy granted by the life tenant shall continue until the earlier of the following March 1, the completion of harvest, or the expiration of the lease by its terms. If a life tenant dies between November 1 and the following March 1, the farm tenancy shall continue for the following crop year and shall terminate on the earlier of the March 1 following that crop year, the completion of harvest, or the expiration of the lease by its terms. However, if the lease is binding upon the remainderperson by specific commitment of the remainderperson, the lease shall terminate as provided by that commitment. Subd. 3. Rental value. A remainderperson who is required by subdivision 2 to continue a tenancy shall be entitled to a rental amount equal to the prevailing fair market rental amount in the area. If the parties cannot agree on a rental amount, either party may petition the district court for a declaratory judgment setting the rental amount. The costs of the action shall be apportioned between the parties by the court. History:  1981 c 370 s 1; 1986 c 444
MN Stat § 501A.01 (2021)
2021 Minnesota Statutes|Chapters 500 - 515B — Property And Property Interests|Chapter 501A — Statutory Rule Against Perpetuities|Section 501A.01 — When Nonvested Interest, Powers Of Appointment Are Invalid; Exceptions.

501A.01 WHEN NONVESTED INTEREST, POWERS OF APPOINTMENT ARE INVALID; EXCEPTIONS. (a) A nonvested property interest is invalid unless: (1) when the interest is created, it is certain to vest or terminate no later than 21 years after the death of an individual then alive; or (2) the interest either vests or terminates within 90 years after its creation. (b) A general power of appointment not presently exercisable because of a condition precedent is invalid unless: (1) when the power is created, the condition precedent is certain to be satisfied or become impossible to satisfy no later than 21 years after the death of an individual then alive; or (2) the condition precedent either is satisfied or becomes impossible to satisfy within 90 years after its creation. (c) A nongeneral power of appointment or a general testamentary power of appointment is invalid unless: (1) when the power is created, it is certain to be irrevocably exercised or otherwise to terminate no later than 21 years after the death of an individual then alive; or (2) the power is irrevocably exercised or otherwise terminates within 90 years after its creation. (d) In determining whether a nonvested property interest or a power of appointment is valid under paragraph (a), clause (1), paragraph (b), clause (1), or paragraph (c), clause (1), the possibility that a child will be born to an individual after the individual's death is disregarded. (e) If, in measuring a period from the creation of a trust or other property arrangement, language in a governing instrument seeks to: (1) disallow the vesting or termination of any interest trust beyond; (2) postpone the vesting or termination of any interest or trust until; or (3) operate in effect in any similar fashion upon, the later of the expiration of a period of time not exceeding 21 years after the death of the survivor of specified lives in being at the creation of the trust or other property arrangement, or the expiration of a period of time that exceeds or might exceed 21 years after the death of the survivor of lives in being at the creation of the trust or other property arrangement; that language is inoperative to the extent it produces a period of time that exceeds 21 years after the death of the survivor of the specified lives. History:  1987 c 60 s 1; 2002 c 347 s 1
MN Stat § 501A.02 (2021)
2021 Minnesota Statutes|Chapters 500 - 515B — Property And Property Interests|Chapter 501A — Statutory Rule Against Perpetuities|Section 501A.02 — When Nonvested Property Interest Or Power Of Appointment Created.

501A.02 WHEN NONVESTED PROPERTY INTEREST OR POWER OF APPOINTMENT CREATED. (a) Except as provided in subsections (b) and (c) and in section 501A.05, subsection (a), the time of creation of a nonvested property interest or a power of appointment is determined under general principles of property law. (b) For purposes of sections 501A.01 to 501A.07, if there is a person who alone can exercise a power created by a governing instrument to become the unqualified beneficial owner of (i) a nonvested property interest or (ii) a property interest subject to a power of appointment described in section 501A.01, subsection (b) or (c), the nonvested property interest or power of appointment is created when the power to become the unqualified beneficial owner terminates. (c) For purposes of sections 501A.01 to 501A.07, a nonvested property interest or a power of appointment arising from a transfer of property to a previously funded trust or other existing property arrangement is created when the nonvested property interest or power of appointment in the original contribution was created. History:   1987 c 60 s 2
MN Stat § 501A.03 (2021)
2021 Minnesota Statutes|Chapters 500 - 515B — Property And Property Interests|Chapter 501A — Statutory Rule Against Perpetuities|Section 501A.03 — Reformation.

501A.03 REFORMATION. Upon the petition of an interested person, a court shall reform a disposition in the manner that most closely approximates the transferor's manifested plan of distribution and is within the 90 years allowed by section 501A.01, subsection (a)(2), (b)(2), or (c)(2) if: (1) a nonvested property interest or a power of appointment becomes invalid under section 501A.01 (statutory rule against perpetuities); (2) a class gift is not but might become invalid under section 501A.01 (statutory rule against perpetuities) and the time has arrived when the share of any class member is to take effect in possession or enjoyment; or (3) a nonvested property interest that is not validated by section 501A.01, subsection (a)(1) can vest but not within 90 years after its creation. History:   1987 c 60 s 3
MN Stat § 501A.04 (2021)
2021 Minnesota Statutes|Chapters 500 - 515B — Property And Property Interests|Chapter 501A — Statutory Rule Against Perpetuities|Section 501A.04 — Exclusions From Statutory Rule.

501A.04 EXCLUSIONS FROM STATUTORY RULE. Section 501A.01 (statutory rule against perpetuities) does not apply to: (1) a nonvested property interest or a power of appointment arising out of a nondonative transfer, except a nonvested property interest or a power of appointment arising out of (i) a premarital or postmarital agreement, (ii) a separation or divorce settlement, (iii) a spouse's election, (iv) a similar arrangement arising out of a prospective, existing, or previous marital relationship between the parties, (v) a contract to make or not to revoke a will or trust, (vi) a contract to exercise or not to exercise a power of appointment, (vii) a transfer in satisfaction of a duty of support, or (viii) a reciprocal transfer; (2) a fiduciary's power relating to the administration or management of assets, including the power of a fiduciary to sell, lease, or mortgage property, and the power of a fiduciary to determine principal and income; (3) a power to appoint a fiduciary; (4) a discretionary power of a trustee to distribute principal before termination of a trust to a beneficiary having an indefeasibly vested interest in the income and principal; (5) a nonvested property interest held by a charity, government, or governmental agency or subdivision, if the nonvested property interest is preceded by an interest held by another charity, government, or governmental agency or subdivision; (6) a nonvested property interest in or a power of appointment with respect to a trust or other property arrangement forming part of a pension, profit sharing, stock bonus, health, disability, death benefit, income deferral, or other current or deferred benefit plan for one or more employees, independent contractors, or their beneficiaries or spouses, to which contributions are made for the purpose of distributing to or for the benefit of the participants or their beneficiaries or spouses the property, income, or principal in the trust or other property arrangement, except a nonvested property interest or a power of appointment that is created by an election of a participant or a beneficiary or spouse; or (7) a property interest, power of appointment, or arrangement that was not subject to the common law rule against perpetuities or is excluded by another statute of this state. History:   1987 c 60 s 4
MN Stat § 501A.05 (2021)
2021 Minnesota Statutes|Chapters 500 - 515B — Property And Property Interests|Chapter 501A — Statutory Rule Against Perpetuities|Section 501A.05 — Prospective Application.

501A.05 PROSPECTIVE APPLICATION. (a) Except as extended by subsection (b), sections 501A.01 to 501A.07 apply to a nonvested property interest or a power of appointment that is created after December 31, 1991. For purposes of this section, a nonvested property interest or a power of appointment created by the exercise of a power of appointment is created when the power is irrevocably exercised or when a revocable exercise becomes irrevocable. (b) If a nonvested property interest or a power of appointment was created before January 1, 1992, and is determined in a judicial proceeding, commenced after December 31, 1991, to violate this state's rule against perpetuities as that rule existed before January 1, 1992, a court upon the petition of an interested person may reform the disposition in the manner that most closely approximates the transferor's manifested plan of distribution and is within the limits of the rule against perpetuities applicable when the nonvested property interest or power of appointment was created. History:  1987 c 60 s 5; 1988 c 482 s 1; 1989 c 340 art 3 s 1; 1990 c 581 s 1
MN Stat § 501A.06 (2021)
2021 Minnesota Statutes|Chapters 500 - 515B — Property And Property Interests|Chapter 501A — Statutory Rule Against Perpetuities|Section 501A.06 — Supersedes Common Law Rule.

501A.06 SUPERSEDES COMMON LAW RULE. Sections 501A.01 to 501A.07 supersede the rule of the common law known as the rule against perpetuities. History:  1987 c 60 s 6; 1989 c 340 art 2 s 2
MN Stat § 501A.07 (2021)
2021 Minnesota Statutes|Chapters 500 - 515B — Property And Property Interests|Chapter 501A — Statutory Rule Against Perpetuities|Section 501A.07 — Short Title.

501A.07 SHORT TITLE. Sections 501A.01 to 501A.07 may be cited as the "Uniform Statutory Rule Against Perpetuities." History:   1987 c 60 s 7
MN Stat § 501B.32 (2021)
2021 Minnesota Statutes|Chapters 500 - 515B — Property And Property Interests|Chapter 501B — Charitable Trusts|Section 501B.32 — Private Foundations; Charitable Trusts; Split-interest Trusts.

501B.32 PRIVATE FOUNDATIONS; CHARITABLE TRUSTS; SPLIT-INTEREST TRUSTS. Subdivision 1. Incorporated provisions. A will or trust instrument that creates a trust that is: (1) a "private foundation," as defined in section 501(a) of the Internal Revenue Code of 1986; or (2) a "charitable trust," as defined in section 4947(a)(1) of the Internal Revenue Code of 1986; or (3) a "split-interest trust," as defined in section 4947(a)(2) of the Internal Revenue Code of 1986, and any other instrument governing the trustee of one of those trusts or the use, retention, or disposition of any of the income or property of one of those trusts, must be considered to have incorporated within it the provisions in paragraphs (a) to (e) with respect to the trust and its trustee. Except as provided in subdivision 2, paragraphs (a) to (e) govern the administration and distribution of the trust notwithstanding provisions of the governing instrument, statute, or law of this state to the contrary. (a) The trustee shall distribute for each taxable year of the trust amounts at least sufficient to avoid liability for the tax imposed by section 4942(a) of the Internal Revenue Code of 1986. (b) The trustee shall not engage in an act of "self-dealing," as defined in section 4941(d) of the Internal Revenue Code of 1986, which would give rise to liability for the tax imposed by section 4941(a) of the Internal Revenue Code of 1986. (c) The trustee shall not keep "excess business holdings," as defined in section 4943(c) of the Internal Revenue Code of 1986, that would give rise to liability for the tax imposed by section 4943(a) of the Internal Revenue Code of 1986. (d) The trustee shall not make investments that would jeopardize the carrying out of any of the exempt purposes of the trust, within the meaning of section 4944 of the Internal Revenue Code of 1986, so as to give rise to liability for the tax imposed by section 4944(a) of the Internal Revenue Code of 1986. (e) The trustee shall not make a "taxable expenditure," as defined in section 4945(d) of the Internal Revenue Code of 1986, that would give rise to liability for the tax imposed by section 4945(a) of the Internal Revenue Code of 1986. Subd. 2. Exception. Subdivision 1 does not apply to the extent that a court of competent jurisdiction determines that application would be contrary to the terms of the will, trust instrument, or other governing instrument described in subdivision 1 and that the will, trust instrument, or other governing instrument may not be changed to conform to subdivision 1. Subd. 3. Rights and powers of courts, attorney general. Nothing in this section impairs the rights and powers of the attorney general or the courts of this state with respect to a trust. History:   1989 c 340 art 1 s 24
MN Stat § 501B.33 (2021)
2021 Minnesota Statutes|Chapters 500 - 515B — Property And Property Interests|Chapter 501B — Charitable Trusts|Section 501B.33 — Citation.

501B.33 CITATION. Sections 501B.33 to 501B.45 may be cited as the "Supervision of Charitable Trusts and Trustees Act." History:   1989 c 340 art 1 s 25