Mortgage
Registry Tax
(Rev. 9/18)
MRT1
Name of Borrower
Name of Lender
1 New debt being secured 2 New Debt Subject to Tax 3 Mortgage Tax Due 4 Reason Code
with this instrument
$ $ $
Signature of Mortgagor or Authorized Agent Title Date Dayme Phone
Mortgagor or authorized agent, sign below.
I declare that the informaon on this cercate is correct and complete to the best of my knowledge and belief.
Website: www.revenue.state.mn.us. Email: MortgageDeed.Taxes@state.mn.us
Phone: 651-556-4721.
Mortgage Registry Tax
Form MRT1 may be used to document your claim for an exempon from mortgage tax or the basis of your tax. The mortgage registry tax rate is .0023 of the amount
of the debt being secured (.0024 for Hennepin and Ramsey counes). Please note, a document or any record of the mortgage may not be received in evidence in any
court, and is not valid noce, unless the tax has been paid. (M.S. 287.10)
5 Decree of marriage dissolution or an instrument made pursuant to it.
6
Mortgage given to correct a misdescription of the mortgaged
property.
7
Mortgage executed as part of a plan of reorganization under a Chap-
ter 11 or Chapter 12 bankruptcy case. (Federal bankruptcy codes
1146[a] and 1231[a])
8 Mortgage secured by real property subject to the minerals produc-
tion tax. (M.S. 298.24 to 298.28)
9 Mortgage loan made under a low and moderate income or other
affordable housing program if the mortgagee is a federal, state, or
local government agency. (Revenue Notice # 01-05)
10 AmortgagegrantedbyaFraternalBenetSociety(borrower).
(M.S. 64B)
11
Reverse Mortgage/Home Equity Conversion Mortgage — tax is due
on the expected total disbursements less interest, mortgage insurance
premiums, and lender service fees. (M.S. 287.05, subd. 6)
12 Agricultural mortgage whose proceeds are being used to acquire or
improve Minnesota real property that is or will be used for the pro-
duction of agricultural products. Includes prior qualifying loans that
arebeingre-nanced.Note:Theexemptiondoesnotapplytothe
portionoftheproceedsusedfornonexemptpurposes(e.g.,house,
residential-usegarage,machineryandseed).
13
Mortgage encumbering real property located within the boundaries
of a federally recognized American Indian tribe if the mortgagor
(i.e.,borrower)is(1)thetribeoramemberofthetribe;or(2)pur-
chasing the property from the tribe or a member of the tribe and the
mortgage is a purchase-money mortgage.
14 Exempt Federal Agencies
—
Toseealistgotoourwebsiteat
www.revenue.state.mn.us and search Mortgage Registry Tax.
15
If the above codes do not apply, please provide explanation below.
Reason Codes
Sign Here
1 Supplemental Mortgage
Thisinstrumentismodifyinganexistingmortgageand
securing a new debt.
1. DebtSecuredAer
Supplement _______________________
2. Principle Balance Before
Supplement ( _______________________ )
3. New Debt Subject to Tax
(Subtract Line 2 from Line 1.
Enter in boxes 1 and 2 at top) _____________________________
2 Additional Security
Thisisanewandseparatemortgagethatprovidesadditional
security for an outstanding debt for which tax has already
been paid and whose mortgage remains in place.
(M.S. 287.01.04[c]).
Tax Paid ____________________________________________________
County _____________________________________________________
Document # _________________________________________________
3 Limiting Clause
Thelimitingclausecanbeusedwhenalenderchoosestosecure
only a portion of the debt amount recited in the mortgage.
“Notwithstanding anything to the contrary herein,
enforcement of this mortgage is limited to a debt amount of
$
________________________________________________
under M.S. 287.05, subd. 1a.”
4 Mortgage Amendment
Thisisamortgageamendment,asdenedinM.S. 287.01, subd. 2,
and does not secure a new or increase an exisitng debt.
(M.S. 287.04[c]).
