Minn. Stat. » CHAPTER 581. MORTGAGES; FORECLOSURE BY ACTION
Minnesota Statutes

Minn. Stat. § 581.05 (2026)

Purchase By Mortgagee

✓ current as of May 2026
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The mortgagee, or any one claiming under the mortgagee, may fairly and in good faith bid off the premises at such sale; and in such case the statement of such fact in the report of sale shall have the same effect as a receipt for money paid upon a sale for cash.

Notes of Decisions
Cited in 3 cases, 1987–2012 · leading case: JPMorgan Chase Bank, N.A. v. Erlandson, 821 N.W.2d 600 (Minn. Ct. App. 2012).
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JPMorgan Chase Bank, N.A. v. Erlandson, 821 N.W.2d 600 (Minn. Ct. App. 2012). “§ 581.05 (2010). Not only may “[t]he mortgagee, or any one claiming under the mortgagee”— here, MERS’s successor, the bank — “bid off the premises” at the sale, but, because the mortgagee’s bid “shall have the same effect as a receipt for money paid upon a sale for cash,” the…”
Obermoller v. Fed. Land Bank of Saint Paul, 409 N.W.2d 229 (Minn. Ct. App. 1987). · cites it 2× “On November 12, 1986, appellants served a summons and complaint on respondent, seeking to have both the April foreclosure sale and the upcoming November foreclosure sale declared invalid because respondent had not negotiated in good faith and had not given the requisite notice…”
Lindell v. City of Waconia, 71 F. Supp. 2d 955 (D. Minnesota 1999). · cites it 18× “1 Plaintiffs raise a battery of federal and state constitutional claims asserting that Waconia City Ordinance § 581.05, which regulates charitable gambling in Waconia, is invalid.”
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