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Last Updated: 4/6/2018

Certificate of Redemption – Mortgagor

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A Certificate of Redemption given to the original mortgagor or lienee is exempt from tax under Minnesota Statutes Minnesota Statutes287.22, subdivision12. This exemption applies if the property is conveyed during the redemption period and redeemed by the new owner.

Example:  

​January 15, 2016

​Foreclosure Sale – highest bidder is mortgagee. The real property is sold
for the debt amount of $ 100,000.

​March 10, 2016

​Original mortgagor conveys the real property to his brother Paul for
$ 10,000. Minnesota deed tax is paid on the $ 10,000.
​April 10, 2016 ​Paul redeems as mortgagor paying sheriff’s pay off amount.  Redemption is exempt from deed tax under M.S. 287.22, subd.12.