Minnesota Statutes 507.32 – Record, When Notice to Parties; Assignment of Mortgage
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The record, as herein provided, of any instrument properly recorded shall be taken and deemed notice to parties. The record of an assignment of a mortgage shall not in itself be notice of such assignment to the mortgagor, the mortgagor’s heirs or personal representatives, so as to invalidate any payment made by either of them to the mortgagee.
Terms Used In Minnesota Statutes 507.32
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- Mortgagee: The person to whom property is mortgaged and who has loaned the money.
- Mortgagor: The person who pledges property to a creditor as collateral for a loan and who receives the money.