FAQ: New Filings and Amendments

Frequently Asked Questions

• What Minnesota statute and Minnesota rule apply to the sales of, lots, points, and fractional share sales, herein referred to as subdivided land, in Minnesota?
  The statute for the registration of subdivided land is Minnesota Stat. Ch. 83.20.  The rule for the registration of subdivided land in Minnesota is Minnesota Rule 2810.

  
  
• What are the fees for filing a subdivided land application in Minnesota?
  The fee for an application for registration by notification is $150.  The fee for registration by qualification is $400 plus $1 per potential sale with a cap of $3,500.

  
  
• Will Minnesota accept a public offering statement (POS) from another state?
  Yes, Minnesota will accept the public offering statement of the state where the property is located if is similar to the POS from Minnesota or the one required by the Federal Housing and Urban Development Agency.

  
  
• What documents must be submitted with the subdivided application?

  Sellers should review the application and the rules for a list of documents to submit.

  
  

• After your initial registration, how do you add additional inventory to your registration?
  Yes, The fee is $50.  For applications by qualification, there is an additional fee of $1 per potential added sale until the cap of $3,500 is met.  After that, the fee is $50.

  
  
• After your initial registration, how do you change any of the documents?

  Amendments may be submitted under Minnesota Stat. Ch. 83.31 for a fee of $25.  The seller should submit the amended documents showing the old language with the new language inserted and underlined.

  
  

• What are the annual reporting requirements and fees?
  Within 120 days of the sellers’ fiscal year end, an annual report must be filed under Minnesota Stat. Ch. 83.30.  The form is at Minn. Rule 2810.9950.  The fee is $75 for a registration by notification, and $150 for a registration by qualification.

  
  

  
  
• Can subdivided land located outside of the United States be registered?

  Yes, but it must meet all of the requirements of the Minnesota laws and rules.  All documents must be translated into English.

  
  

• Do individuals need a license to sell subdivided land?

  Individuals must be a licensed real estate agent, a limited broker or their employee, or exempt under Minnesota Stat Ch . 82.55.