Open Access. Powered by Scholars. Published by Universities.®
Articles 1 - 1 of 1
Full-Text Articles in Law
Minnesota’S New Residential Purchase Agreement Cancellation Statute, Larry M. Wertheim
Minnesota’S New Residential Purchase Agreement Cancellation Statute, Larry M. Wertheim
William Mitchell Law Review
For the first time in almost twenty years, the Minnesota legislature has altered the statutory procedures for canceling residential purchase agreements. The 2004 legislature instituted two new procedures for cancellation of residential purchase agreements, both of which will significantly change current practices. … The new legislation for cancellation of residential purchase agreements represents an effort to provide an expedited method of allowing sellers and buyers to resolve standoffs between the parties with the broker in the middle holding the earnest money. It has the advantages over section 559.21 of speed, a remedy for the buyer, and a means of confirming …