1.1.................... moves to amend H.F. No. 1682, the delete everything amendment
1.2(A13-0365), as follows:
1.3Page 13, line 19, delete "the" and insert "a"
1.4Page 13, line 20, after "seller" insert "in four or more contracts for deed involving
1.5residential real property"
1.6Page 13, line 23, after the period insert "A contract for deed transaction that is
1.7exempt under section 559.202, subdivision 2, is a contract for deed for the purposes of
1.8determining whether a seller is a multiple seller."
1.9Page 13, line 32, after the second "property" insert "consisting of one to four family
1.10dwelling units, one of which the purchaser intends to occupy as the purchaser's principal
1.11place of residence. Residential real property does not include property subject to a family
1.12farm security loan or a transaction subject to sections 583.20 to 583.32."
1.13Page 13, delete lines 33 to 35
1.14Page 14, line 3, delete "A" and insert "In addition to the disclosures required under
1.15sections 513.52 to 513.60, a"
1.16Page 14, line 5, delete "required by subdivision 2"
1.17Page 14, line 19, after "statement" insert ", initialed by the purchaser"
1.18Page 14, line 33, delete "The" and insert "Mortgage"
1.19Page 15, line 5, after "maintenance" insert ", as described in the contract for deed"
1.20Page 15, line 8, delete "loan from a bank" and insert ", another financial arrangement,
1.21or pay for the balance in cash"
1.22Page 15, after line 12, insert:
1.23"(6) Within four months of signing the contract for deed, you must "record" it in the
1.24office of the county recorder or registrar of titles in the county in which the property is
1.25located. If you do not do so, you could face a fine."
1.26Page 15, line 13, delete "to Do" and insert "Highly Recommended"
1.27Page 16, delete lines 7 to 11
2.1Page 16, line 15, delete "paragraph (b)" and insert "paragraph (a)"
2.2Page 16, line 18, after the period, delete "Any" and insert "An"
2.3Page 16, after line 20, insert:
2.4    "Subd. 6. Effects of violation. A violation of this section has no effect on the
2.5validity of the contract.
2.6Renumber the subdivisions in sequence
2.7Reletter the remaining paragraphs and correct internal references accordingly"