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Minnesota Bankruptcy Law: Self Employed Debtors Can Claim an Exemption for “Wages” »

In Minnesota, a person filing for bankruptcy and choosing to use the Minnesota exemptions has traditionally been allowed to keep 75 percent of wages owed to him or her on the day the bankruptcy was filed, pursuant to Minnesota Statutes Section 550.37 subd. 13. It has been widely believed that this exemption applied only [...]

Popularity: 16% [?]

Contract for Deed Cancellation in Minnesota: Can Bankruptcy Stop It? »

In Minnesota, the purchase of a home is most commonly financed by obtaining a mortgage, but it can also be accomplished by means of a contract for deed.  This is usually done by a buyer whose credit rating is too poor to qualify for a mortgage.  There are less legal protections for the contract for [...]

Popularity: 24% [?]

Mortgage Foreclosures in Minnesota: How Does It Work? »

In Minnesota, a home mortgage can be foreclosed by sheriff’s advertisement sale or by court action. Unless there a title defect to cure by means of a court order, almost all Minnesota mortgage foreclosures are done by advertisement.
Foreclosing by advertisement is simpler, quicker and less expensive for the mortgage bank than doing it by [...]

Popularity: 20% [?]

Minnesota Homestead Exemption: Increased to $300,000 and 160 Acres, or $750,000 for Farmers »

In many states, you can choose between the federal bankruptcy law exemptions and your state exemptions, whichever protects your property the best. The federal bankruptcy exemptions provide for an exemption of $20,200 for your home equity, which usually means $40,400 for a joint case. That’s not a very generous exemption.
However, Minnesota allows debtors [...]

Popularity: 20% [?]