Minnesota Mortgage Registry Tax

Mortgage Registry Tax
MRT1, Mortgage Registry Tax
*226461*

MRT1, Mortgage Registry Tax

Form MRT1 may be used to document your claim for an exemption 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 counties). Please note, a document or any record of the mortgage may not be received in evidence in any
court, and is not valid notice, unless the tax has been paid. (M.S. 287.10)
Name of Borrower			

Mortgage
Registry Tax

			
Name of Lender			
1	 New debt being secured	
2 New Debt Subject to Tax	
3 Mortgage Tax Due 	
with this instrument			

	

$		

$	

4 Reason Code

$

Sign Here

Mortgagor or authorized agent, sign below.

I declare that the information on this certificate is correct and complete to the best of my knowledge and belief.
Signature of Mortgagor or Authorized Agent	

Title	

Date	

Daytime Phone

Website: www.revenue.state.mn.us. Email: [email protected]
Phone: 651-556-4721.

Reason Codes
6	 Mortgage given to correct a misdescription of the mortgaged
property.

1	Supplemental Mortgage

	 This instrument is modifying an existing mortgage and
securing a new debt.
1.	 Debt Secured  After
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)

7	 Mortgage executed as part of a plan of reorganization under a
Chapter 11 or Chapter 12 bankruptcy case. (Federal bankruptcy
codes 1146[a] and 1231[a])

)

		

2	Additional Security

	 This is a new and separate mortgage that provides additional
security for an outstanding debt for which tax has already
been paid and whose mortgage remains in place.
M.S. 287.04 (3).
	 Tax Paid
	County
	 Document #

3	Limiting Clause

	 The limiting clause can be used when a lender chooses to secure
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

	 This is a mortgage amendment, as defined in M.S. 287.01, subd. 2,
and does not secure a new or increase an exisitng debt.
M.S. 287.04 (8).
5	 Decree of marriage dissolution or an instrument made pursuant to it.
(Rev. 1/22)

	8	 Mortgage secured by real property subject to the minerals production tax. (M.S. 298.24 to 298.28)
	9	 A mortgage loan made under a low and moderate income housing
program, or other affordable housing program, if: (i) the mortgagee
is a federal, state, or local government agency; or (ii) the assignee is
a federal, state, or local government agency.
	10	 A mortgage granted by a Fraternal Benefit Society (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 production of agricultural products. Includes prior qualifying loans that
are being re-financed. Note: The exemption does not apply to the
portion of the proceeds used for nonexempt purposes (e.g., house,
residential-use garage, machinery and seed).
13	 Mortgage encumbering real property located within the boundaries
of a federally recognized American Indian tribe if the mortgagor
(i.e., borrower) is (1) the tribe or a member of the tribe; or (2) purchasing the property from the tribe or a member of the tribe and the
mortgage is a purchase-money mortgage.
14	 Exempt Federal Agencies— To see a list go to our website at
www.revenue.state.mn.us and search Mortgage Registry Tax.
15	 If the above codes do not apply, please provide explanation below.