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Subdivision 1.Limitation.
No action or proceeding to foreclose a real estate mortgage, whether by action or advertisement or otherwise, shall be maintained unless commenced within 15 years from the maturity of the whole of the debt secured by the mortgage, and this limitation shall not be extended by the nonresidence of any plaintiff or defendant or any party interested in the land upon which the mortgage is a lien in any action commenced to foreclose such mortgage, nor by reason of any payment made after such maturity, nor by reason of any extension of the time of payment of the mortgage or the debt or obligation thereby secured or any portion thereof, unless such extension shall be in writing and shall have been recorded in the same office in which the original mortgage is recorded, within the limitation period herein provided, or prior to the expiration of any previously recorded extension of such mortgage or debt, nor by reason of any disability of any party interested in the mortgage.
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Subd. 2.When time begins to run; commencement of proceedings.
The time within which any such action or proceeding may be commenced shall begin to run from the date of such mortgage, unless the time of the maturity of the debt or obligation secured by such mortgage shall be clearly stated in such mortgage. Any action or proceeding to foreclose a real estate mortgage, whether by action, by advertisement, or otherwise, commenced within the period of limitation herein provided, may be prosecuted to completion notwithstanding the expiration of the period of limitation, and proceedings to foreclose a real estate mortgage by advertisement shall be deemed commenced on the date of the first publication of the notice of sale.
Notes of Decisions
Cited in
11
cases (
2 in the last 5 years), 1960–2025 · leading case:
Peterson v. Johnson, 720 N.W.2d 833 (Minn. Ct. App. 2006).
Peterson v. Johnson, 720 N.W.2d 833 (Minn. Ct. App. 2006).
· cites it 16× “Because Minn.Stat. § 541.03 (2004) governs a claim to have a conveyance absolute on its face declared an equitable mortgage and because the district court did not err by finding an equitable mortgage, we affirm on those claims.”
Vossen v. Parker, 609 N.W.2d 290 (Minn. Ct. App. 2000).
· cites it 15× “Parker did, however, begin foreclosure proceedings within 15 years of the maturity date shown on the promissory note.”
Driessen-Rieke v. Steckman, 409 N.W.2d 50 (Minn. Ct. App. 1987).
· cites it 10× “Respondent moved for summary judgment requesting that the mortgage be removed as a lien upon her property based upon the running of the statute of limitations on mortgage foreclosures, Minn.Stat. § 541.03. Appellants cross-moved for summary judgment asking the court to find that…”
Bakken v. Helgeson, 785 N.W.2d 791 (Minn. Ct. App. 2010).
· cites it 5× “” Minn.Stat. § 541.03, subd. 1. Here, the judgment did not expressly provide a means for enforcement.”
Arzt v. Bank of Am., N.A., 883 F. Supp. 2d 792 (D. Minnesota 2012).
· cites it 6× “Foreclosure by advertisement is “subject to the provisions of section 541.03.” MinmStat. § 580.01. Section 541.”
Miller v. Snedeker, 101 N.W.2d 213 (Minn. 1960).
“25, provides: “An examiner may disregard an unsatisfied mortgage of record, when 15 years have elapsed since its maturity,” referring to § 541.03. The abstract *216 here indicates the elapsed period to be nearly 30 years.”
In Re the Est. of Dahle, 384 N.W.2d 556 (Minn. Ct. App. 1986).
· cites it 2× “Appellants also insist that enforcement of the mortgage is barred by Minn. Stat. § 541.03 , subd. 1 (1984), which provides: No action or proceeding to foreclose a real estate mortgage * * * shall be maintained unless commenced within 15 years from the maturity of the whole of…”
DeSalle v. Gibraltar Title Agency L.L.C., 621 N.W.2d 31 (Minn. 2000).
· cites it 8× “No action or proceeding to foreclose a real estate mortgage, whether by action or advertisement or otherwise, shall be maintained unless commenced within 15 years from the maturity of the whole of the debt secured by the mortgage. * * * Subd. 2. When time begins to run;…”
Randall L. Twait v. MidFirst Bank, 870 N.W.2d 394 (Minn. Ct. App. 2015).
· cites it 4× “” Minn. Stat. § 541.03 , subd. 2 (2012). Every foreclosure by advertisement is “subject to the provisions of [Minn.”
Palen (D. Minnesota 2025).
· cites it 2× “See Minn. Stat. § 541.03 . Absent a clear statement in the statutory text concerning the validity or extinguishment of the lien, this provision, without more, cannot support Palen’s argument that equates the foreclosure remedy with lien validity.”
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