reglab/statecodes huggingface dataset:
2023 Minnesota Statutes › Chapters 500 - 515B — Property And Property Interests › Chapter 500 — Estates In Real Property › Section 500.05 — Division Of Realty Or Personalty.

500.05 DIVISION OF REALTY OR PERSONALTY.
Estates of inheritance and for life shall be denominated estates of freehold; estates for years shall be denominated chattels real; and estates at will or by sufferance shall be chattel interests, but shall not be liable as such to sale on execution.
An estate for the life of a third person, whether limited to heirs or otherwise, shall be deemed a freehold only during the life of the grantee or devisee, but after the death of the grantee or devisee it shall be deemed a chattel real.
History:
(8036, 8037) RL s 3195, 3196; 1986 c 444
2023 Minnesota Statutes › Chapters 500 - 515B — Property And Property Interests › Chapter 500 — Estates In Real Property › Section 500.07 — Estates In Possession.

500.07 ESTATES IN POSSESSION.
An estate in possession is where the owner has an immediate right to the possession of the land; an estate in expectancy is where the right to the possession is postponed to a future period.
History:
(8038) RL s 3197
2023 Minnesota Statutes › Chapters 500 - 515B — Property And Property Interests › Chapter 500 — Estates In Real Property › Section 500.08 — Estates In Expectancy.

500.08 ESTATES IN EXPECTANCY.
Estates in expectancy are divided into, (1) reversions, and (2) estates commencing at a future day, denominated future estates. All expectant estates, except such as are enumerated and defined in this chapter, are abolished.
History:
(8039, 8072) RL s 3198, 3231
2023 Minnesota Statutes › Chapters 500 - 515B — Property And Property Interests › Chapter 500 — Estates In Real Property › Section 500.09 — Reversions.

500.09 REVERSIONS.
A reversion is the residue of an estate left in the grantor, or the grantor's heirs, or in the heirs of a testator, commencing in possession on the determination of a particular estate granted or devised.
History:
(8042) RL s 3201; 1986 c 444
2023 Minnesota Statutes › Chapters 500 - 515B — Property And Property Interests › Chapter 500 — Estates In Real Property › Section 500.10 — Future Estate; Statutory Remainders.

500.10 FUTURE ESTATE; STATUTORY REMAINDERS.
A future estate is an estate limited to commence in possession at a future day, either without the intervention of a precedent estate, or on the determination, by lapse of time or otherwise, of a precedent estate created at the same time.
History:
(8040) RL s 3199
2023 Minnesota Statutes › Chapters 500 - 515B — Property And Property Interests › Chapter 500 — Estates In Real Property › Section 500.11 — Future Estates; Inclusiveness.

500.11 FUTURE ESTATES; INCLUSIVENESS.
Subdivision 1.
Common law remainders.
When a future estate is dependent upon a precedent estate, it may be termed a remainder, and may be created and transferred by that name.
When a remainder on an estate for life or for years is not limited on a contingency defeating or avoiding such precedent estate, it shall be construed as intended to take effect only on the death of the first taker, or at the expiration, by lapse of time, of such term of years.
Subd. 2.
Conditional limitations; shifting interests.
A remainder may be limited on a contingency which, in case it should happen, will operate to abridge or determine the precedent estate; and every such remainder shall be construed a conditional limitation, and have the same effect as such limitation would have by law.
Subd. 3.
Springing interests.
Subject to the rules established in this chapter, a freehold estate, as well as a chattel real, may be created to commence at a future day; an estate for life may be created in a term of years, and a remainder limited thereon.
History:
(8041, 8054, 8057, 8059) RL s 3200, 3213, 3216, 3218
2023 Minnesota Statutes › Chapters 500 - 515B — Property And Property Interests › Chapter 500 — Estates In Real Property › Section 500.12 — Future Estates; Contingent.

500.12 FUTURE ESTATES; CONTINGENT.
Future estates are either vested or contingent. They are contingent while the person to whom, or the event upon which, they are limited to take effect remains uncertain.
History:
(8043) RL s 3202; 1943 c 69 s 1
2023 Minnesota Statutes › Chapters 500 - 515B — Property And Property Interests › Chapter 500 — Estates In Real Property › Section 500.14 — Future Estates Construed; Validity; Creating Instruments.

500.14 FUTURE ESTATES CONSTRUED; VALIDITY; CREATING INSTRUMENTS.
Subdivision 1.
Failure of heirs or issue.
Unless a different intent is effectively manifested, whenever property is limited upon the death of any person without "heirs" or "heirs of the body" or "issue" general or special, or "descendants" or "offspring" or "children" or any such relative described by other terms, the limitation is to take effect only when that person dies not having such relative living at the time of the person's death, or in gestation and born alive thereafter, and is not a limitation to take effect upon the indefinite failure of such relatives; nor, unless a different intent is effectively manifested, does the limitation mean that death without such relative is restricted in time to the lifetime of the creator of the interest.
Subd. 2.
Alternative future estates.
Two or more future estates may also be created, to take effect in the alternative, so that if the first in order fails to vest the next in succession shall be substituted for it, and take effect accordingly.
Subd. 3.
Probability of contingency.
No future estate, otherwise valid, shall be void on the ground of the probability or improbability of the contingency on which it is limited to take effect.
Subd. 4.
Certain remainders vest by purchase.
When a remainder is limited to the heirs, or heirs of the body, of a person to whom a life estate in the same premises is given, the persons who, on the termination of the life estate, are the heirs or heirs of the body of such tenant for life shall be entitled to take as purchasers, by virtue of the remainder so limited to them. No conveyance, transfer, devise, or bequest of an interest, legal or equitable, in real or personal property, shall fail to take effect by purchase because limited to a person or persons, howsoever described, who would take the same interest by descent or distribution.
Subd. 5.
Posthumous children as remainderpersons.
When a future estate is limited to heirs, or issue, or children, posthumous children shall be entitled to take in the same manner as if living at the death of their parent.
Subd. 6.
Posthumous birth averts "death without issue."
A future estate, depending on the contingency of the death of any person without heirs or issue or children, shall be defeated by the birth of a posthumous child of such person capable of taking by descent.
History:
(8052-1, 8055, 8056, 8058, 8060, 8061) RL s 3211, 3214, 3215, 3217, 3219, 3220; 1939 c 90; 1939 c 378; 1986 c 444
2023 Minnesota Statutes › Chapters 500 - 515B — Property And Property Interests › Chapter 500 — Estates In Real Property › Section 500.15 — Future Estates; Protection From Destructibility Rules.

500.15 FUTURE ESTATES; PROTECTION FROM DESTRUCTIBILITY RULES.
Subdivision 1.
Owner's destruction of precedent estate.
No expectant estate can be defeated or barred by any alienation or other act of the owner of the intermediate or precedent estate, nor by any destruction of such precedent estate, by disseisin, forfeiture, surrender, merger, or otherwise.
Subd. 2.
Exception.
Subdivision 1 shall not be construed to prevent an expectant estate from being defeated in any manner, or by any act or means, which the party creating such estate has, in the creation thereof, provided or authorized; nor shall an expectant estate thus liable to be defeated be on that ground adjudged void in its creation.
Subd. 3.
Premature determination of precedent estate.
No remainder, valid in its creation, shall be defeated by the determination of the precedent estate before the happening of the contingency on which the remainder is limited to take effect; but, should such contingency afterward happen, the remainder shall take effect in the same manner and to the same extent as if the precedent estate had continued to the same period.
History:
(8062, 8063, 8064) RL s 3221, 3222, 3223
2023 Minnesota Statutes › Chapters 500 - 515B — Property And Property Interests › Chapter 500 — Estates In Real Property › Section 500.16 — Expectant Estates: Descendible, Devisable, Alienable.

500.16 EXPECTANT ESTATES: DESCENDIBLE, DEVISABLE, ALIENABLE.
Expectant estates are descendible, devisable, and alienable in the same manner as estates in possession; and hereafter contingent rights of reentry for breach of conditions subsequent, and rights to possession for breach of conditions subsequent after breach but before entry made, and possibilities of reverter, shall be descendible, devisable, and alienable in the same manner as estate in possession.
History:
(8065) RL s 3224; 1937 c 487 s 2
2023 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
2023 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
2023 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
2023 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
2023 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
2023 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
2023 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
2023 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
2023 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
2023 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
2023 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
2023 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
2023 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
2023 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
2023 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
2023 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
2023 Minnesota Statutes › Chapters 500 - 515B — Property And Property Interests › Chapter 501B — Charitable Trusts › Section 501B.34 — Charitable Trusts; Supervision By Attorney General.

501B.34 CHARITABLE TRUSTS; SUPERVISION BY ATTORNEY GENERAL.
Sections 501B.33 to 501B.45 apply to trustees holding property for charitable purposes. In connection with the supervision, administration, and enforcement of charitable trusts, the attorney general has the rights, duties, and powers in sections 501B.33 to 501B.45, and common law and statutory rights, duties, and powers.
History:
1989 c 340 art 1 s 26
2023 Minnesota Statutes › Chapters 500 - 515B — Property And Property Interests › Chapter 501B — Charitable Trusts › Section 501B.35 — Definitions.

501B.35 DEFINITIONS.
Subdivision 1.
Scope.
The definitions in this section apply to sections 501B.31 to 501B.45 and do not modify or abridge any law or rule respecting the nature of a charitable trust or the nature and extent of the duties of a trustee except duties imposed by sections 501B.31 to 501B.45.
Subd. 2.
Charitable purpose.
"Charitable purpose" means an actual or purported charitable, philanthropic, religious, social service, educational, eleemosynary, or other public use or purpose.
Subd. 3.
Charitable trust.
"Charitable trust" means a fiduciary relationship with respect to property that arises as a result of a manifestation of an intention to create it, and that subjects the person by whom the property is held to equitable duties to deal with the property for a charitable purpose. As used in this definition, property includes all income derived from fees for services.
Subd. 4.
Trustee.
"Trustee" means a person or group of persons either in an individual or a joint capacity, or a director, officer, or other agent of an association, foundation, trustee corporation, corporation, or other legal entity who is vested with the control or responsibility of administering property held for a charitable purpose.
History:
1989 c 340 art 1 s 27; 1997 c 222 s 57
2023 Minnesota Statutes › Chapters 500 - 515B — Property And Property Interests › Chapter 501B — Charitable Trusts › Section 501B.36 — Registration And Reporting.

501B.36 REGISTRATION AND REPORTING.
The registration and reporting provisions of sections 501B.37 and 501B.38 apply to a charitable trust, including an organization with a charitable purpose, that has gross assets of $25,000 or more at any time during the year, except that the provisions do not apply to:
(1) a charitable trust administered by the United States or a state, territory, or possession of the United States, the District of Columbia, the Commonwealth of Puerto Rico, or any of their agencies or subdivisions;
(2) a religious association organized under chapter 315 or chapter 317A;
(3) a charitable trust organized and operated exclusively for religious purposes and administered by a religious association organized under chapter 315 or 317A;
(4) an organization described in section 509(a)(3) of the Internal Revenue Code of 1986 and operated, supervised, or controlled by or in connection with one or more organizations described in clauses (2) to (5); a pooled income fund as defined in section 642(c)(5) of the Internal Revenue Code of 1986 maintained by an organization described in clauses (2) to (5); or a charitable remainder annuity trust or unitrust, as defined in section 664 of the Internal Revenue Code of 1986;
(5) a trust in which the only charitable interest is a contingent interest for which no charitable deduction has been allowed for Minnesota income, inheritance, or gift tax purposes or a trust in which not all of the unexpired interests are devoted to one or more charitable purposes and in which the only charitable interest is an annuity or an income interest with respect to which a charitable deduction is allowed the trust under applicable Minnesota income tax laws;
(6) an organization registered with the attorney general pursuant to sections 309.52 and 309.53;
(7) a trust for individual and charitable beneficiaries that is described in section 4947(a)(2) of the Internal Revenue Code of 1986, also known as a split-interest trust; or
(8) a charitable gift, bequest, or devise not held and continued by a private express trust or corporation even though the gift, bequest, or devise creates a fiduciary relationship, unless there is no named charitable beneficiary in existence or unless a named charitable beneficiary elects in a writing filed with the attorney general and with the fiduciary to come within the provisions of sections 501B.37 and 501B.38.
History:
1989 c 340 art 1 s 28; art 2 s 6; 1995 c 235 s 12
2023 Minnesota Statutes › Chapters 500 - 515B — Property And Property Interests › Chapter 501B — Charitable Trusts › Section 501B.37 — Register Of Trusts And Trustees.

501B.37 REGISTER OF TRUSTS AND TRUSTEES.
Subdivision 1.
Establishment of register; transfer to attorney general.
The attorney general shall establish and maintain a register of charitable trusts and trustees subject to sections 501B.33 to 501B.45.
Subd. 2.
Filing of instruments.
Except as otherwise provided in section 501B.36, a charitable trust shall register and file with the attorney general a copy of its articles of incorporation or the instrument that created the charitable trust, including any amendments, within three months after the charitable trust first receives possession or control of property authorized or required to be applied, either at present or in the future, for charitable purposes.
Subd. 3.
Registration fee.
A $25 registration fee shall be paid by every charitable trust filing the information required by this section.
History:
1989 c 340 art 1 s 29; 1995 c 235 s 13,14
2023 Minnesota Statutes › Chapters 500 - 515B — Property And Property Interests › Chapter 501B — Charitable Trusts › Section 501B.38 — Information Filing.

501B.38 INFORMATION FILING.
Subdivision 1.
Deadlines; extensions.
A charitable trust subject to sections 501B.33 to 501B.45 must file with the attorney general a copy of its federal tax or information return, including all schedules and amendments, submitted by the charitable trust to the Internal Revenue Service for the period covered in the trust's accounting year last completed. If the charitable trust does not file a federal tax or information return, it shall file a balance sheet and a statement of income and expenses for the accounting year last completed.
Subd. 1a.
Extensions.
The information required by this section must be filed annually on or before the 15th day of the fifth month following the close of the charitable trust's taxable year as established for federal tax purposes. The time for filing may be extended by application to the attorney general, for up to six months, provided the applicant has requested an extension to file its federal tax return under section 6081 of the Internal Revenue Code of 1986. A charitable trust that files the information required under this subdivision with the attorney general is not required to file the same information with the commissioner of revenue.
Subd. 2.
Suspension of filing.
The attorney general may suspend the filing requirements under subdivision 1 for a particular charitable trust for a reasonable, specifically designated time on written application of the trustee filed with the attorney general. If the filing requirements are suspended, the attorney general shall file in the register of charitable trusts a written statement that the interests of the beneficiaries will not be prejudiced by the suspension and that the information required by this section is not required for proper supervision by the attorney general's office.
Subd. 3.
Filing fee.
A $25 filing fee shall be paid by every charitable trust filing the information required by this section.
History:
1989 c 340 art 1 s 30; 1995 c 235 s 15; 1996 c 471 art 13 s 22
2023 Minnesota Statutes › Chapters 500 - 515B — Property And Property Interests › Chapter 501B — Charitable Trusts › Section 501B.39 — Public Inspection Of Records.

501B.39 PUBLIC INSPECTION OF RECORDS.
The register, copies of instruments, and the reports filed with the attorney general must be open to public inspection.
History:
1989 c 340 art 1 s 31
2023 Minnesota Statutes › Chapters 500 - 515B — Property And Property Interests › Chapter 501B — Charitable Trusts › Section 501B.42 — Contrary Provisions Of Instrument Invalid.

501B.42 CONTRARY PROVISIONS OF INSTRUMENT INVALID.
Sections 501B.33 to 501B.45 apply regardless of contrary provisions of an instrument.
History:
1989 c 340 art 1 s 34
2023 Minnesota Statutes › Chapters 500 - 515B — Property And Property Interests › Chapter 501B — Charitable Trusts › Section 501B.43 — Cost Of Investigations And Proceedings; Registration And Filing Fees.

501B.43 COST OF INVESTIGATIONS AND PROCEEDINGS; REGISTRATION AND FILING FEES.
Subdivision 1.
Expenses payable.
In a proceeding brought by the attorney general or in which the attorney general intervenes under sections 501B.33 to 501B.45, the judgment or order may provide that the trustee must pay the reasonable expenses necessarily incurred by the attorney general in the investigation and prosecution of the action, including attorneys' fees, if it is determined in the proceeding that the trustee has been guilty of an intentional or grossly negligent breach of trust.
Subd. 2.
Disposition of money.
All money received by the attorney general under this section must be deposited in the state treasury and credited to the general fund.
History:
1989 c 340 art 1 s 35
2023 Minnesota Statutes › Chapters 500 - 515B — Property And Property Interests › Chapter 501B — Charitable Trusts › Section 501B.44 — Immunity Of Charitable Trusts.

501B.44 IMMUNITY OF CHARITABLE TRUSTS.
A charitable trust is an "organization" for purposes of section 317A.257, and that section applies to charitable trusts.
History:
1989 c 340 art 1 s 36; art 2 s 7
2023 Minnesota Statutes › Chapters 500 - 515B — Property And Property Interests › Chapter 501B — Charitable Trusts › Section 501B.45 — Sale Of Banks Owned By Charitable Trusts.

501B.45 SALE OF BANKS OWNED BY CHARITABLE TRUSTS.
Subdivision 1.
Definitions.
For the purpose of this section, "charitable trust" means a charitable trust subject to supervision by the attorney general under the Supervision of Charitable Trusts and Trustees Act, sections 501B.33 to 501B.45, that is required to divest excess business holdings by section 4943 of the Internal Revenue Code of 1986 and that owned 100 percent of a bank holding company on May 26, 1969, the date of enactment of section 4943 of the Internal Revenue Code of 1954.
Subd. 2.
Authorization.
The stock or assets of one or more banks or a bank holding company owned directly or indirectly by a charitable trust may be sold, assigned, merged, or transferred by the charitable trust under the procedures in section 48.93 to a bank holding company, bank, or other qualified entity as permitted by applicable banking laws without regard to whether the entity acquiring the stock or assets is located in a reciprocating state.
Subd. 3.
Legislative intent.
It is the express intention of the Minnesota legislature to act pursuant to United States Code, title 12, section 1842(d), to permit certain charitable trusts to sell, assign, or transfer certain financial institutions' assets without regard to whether the entity acquiring the assets of the charitable trust is located outside of this state.
Subd. 4.
Additional acquisitions.
A bank holding company, other than a reciprocating state bank holding company as defined in section 48.92, subdivision 8, that directly or indirectly acquires control of a bank located in this state under the provisions of this section may acquire additional bank assets through the expenditure of an annual amount not to exceed five percent of the Minnesota assets of the acquired bank holding company as of December 31 of the preceding year. The restrictions within this subdivision apply only until the bank holding company making an acquisition under this section becomes a reciprocating state bank holding company. This section does not prohibit the bank holding company from being granted a charter for a de novo bank or from establishing de novo detached facilities pursuant to Minnesota law.
History:
1989 c 340 art 1 s 37
2023 Minnesota Statutes › Chapters 500 - 515B — Property And Property Interests › Chapter 501B — Charitable Trusts › Section 501B.46 — Petition For Court Order To Sell, Mortgage, Or Lease Real Property Held In Trust.

501B.46 PETITION FOR COURT ORDER TO SELL, MORTGAGE, OR LEASE REAL PROPERTY HELD IN TRUST.
(a) Except as provided in paragraph (c), if the assets of an express trust by will or other written instrument include real property in this state that the trustee is not, under the terms of the trust, then permitted to sell, mortgage, or lease, and if section 501C.0205 is applicable to the trust, the trustee or a beneficiary of the trust may petition the court then having jurisdiction of the trust for an order directing the trustee to sell, mortgage, or lease the real property or a part of the real property.
(b) Except as provided in paragraph (c), if the assets of an express trust by will or other written instrument include real property in this state that the trustee is not, under the terms of the trust, then permitted to sell, mortgage, or lease, and if section 501C.0205 is not applicable to the trust, the trustee or a beneficiary of the trust may petition an appropriate district court under section 501C.0202 for an order directing the trustee to sell, mortgage, or lease the real property or a part of the real property.
(c) If a trust is of the kind described in section 501C.1202, subdivision 3, no order described in paragraph (a) or (b) may be entered upon a petition filed by a person other than the trustee.
History:
1989 c 340 art 1 s 38; 1990 c 581 s 3; 2015 c 5 art 15 s 10
2023 Minnesota Statutes › Chapters 500 - 515B — Property And Property Interests › Chapter 501B — Charitable Trusts › Section 501B.47 — Petition By Owner Of Present Or Future Interest For Court Order To Sell, Mortgage, Or Lease Interests In Real Property.

501B.47 PETITION BY OWNER OF PRESENT OR FUTURE INTEREST FOR COURT ORDER TO SELL, MORTGAGE, OR LEASE INTERESTS IN REAL PROPERTY.
Notwithstanding a contrary provision in the instrument creating the interests, when the ownership of real property situated in this state is divided into one or more possessory interests and one or more future interests, the owner of an interest may petition the district court for the county in which any of the real property is situated for an order directing that the real property or part of the real property be sold, mortgaged, or leased. If an owner is a minor or incapacitated person as defined in section 524.5-102, subdivision 6 or 10, or otherwise under conservatorship, the petition may be made on behalf of the owner by a custodian, conservator, or guardian.
History:
1989 c 340 art 1 s 39; 2004 c 146 art 3 s 33