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Minnesota Chippewa Tribe - Leech Lake Band - Tribal Code

 

Real Estate Mortgages and Foreclosure, Ordinance No. 03-02
Section II. Foreclosure by Action

A. Rules Governing Foreclosure Actions

B. Foreclosure for Installment; Dismissal, Stay

C. Judgment

D. Strict Foreclosure

E. Purchase by Mortgagee

F. Surplus

G. Report, Confirmation, Sale

H. Satisfaction of Judgment, Execution for Deficiency

I. Redemption by Mortgagor or Creditor

J. Delivery of Possession

LLOjibwe REMAFO Sec. II, § A
A. Rules Governing Foreclosure Actions

Actions for the foreclosure of mortgages on any residential property and land, shall be governed by the same rules and regulations of the Leech Lake Band of Ojibwe and the Judicial Code for civil action, except as in this subchapter otherwise provides.

Adopted June 17, 2003.

Leech Lake Ojibwe Real Est. Mortgage & Foreclosure Ord. Sec. II, § A, LLOjibwe REMAFO Sec. II, § A



LLOjibwe REMAFO Sec. II, § B
B. Foreclosure for Installment; Dismissal, Stay

When an action is brought for the foreclosure of the mortgage on which there is due any interest, or any portion of the principal and there are other portions to become due subsequently the action shall be dismissed, upon the defendant bringing into Court, at any time before the judgment of sale, the principal and interest due, with costs. If, after such judgment of sale, the defendant brings into Court the principal and interest due, with costs, the action shall be stayed; but the Court shall enter judgment of foreclosure and sale, to be enforced by a further order upon a subsequent default in the payment of any portion of the principal or of interest thereafter to become due.

Adopted June 17, 2003.

Leech Lake Ojibwe Real Est. Mortgage & Foreclosure Ord. Sec. II, § B, LLOjibwe REMAFO Sec. II, § B

 




LLOjibwe REMAFO Sec. II, § C
C. Judgment

Judgment shall be entered, under the direction of the Court, adjudging the amount due, with costs and disbursements, and the sale of the mortgaged premises, or some part thereof, to satisfy such amount, and directing the Chief Law Enforcement Officer to proceed to sell the same according to the provisions of law relating to the sale of real estate on execution, and to make report to the Court. A certified transcript of the judgment shall be delivered to the Chief Law Enforcement Officer and shall be his authority for making a sale.

Adopted June 17, 2003.

Leech Lake Ojibwe Real Est. Mortgage & Foreclosure Ord. Sec. II, § C, LLOjibwe REMAFO Sec. II, § C




LLOjibwe REMAFO Sec. II, § D
D. Strict Foreclosure

Judgment for the strict foreclosure of a mortgage may be given when such remedy is just or appropriate, but in such case no final decree or foreclosure shall be rendered until the lapse of one year after the judgment adjudging the amount due on such mortgage.

Adopted June 17, 2003.

Leech Lake Ojibwe Real Est. Mortgage & Foreclosure Ord. Sec. II, § D, LLOjibwe REMAFO Sec. II, § D




LLOjibwe REMAFO Sec. II, § E
E. Purchase by Mortgagee

The mortgagee, or anyone claiming under him, may fairly and in good faith bid off the premises at such sale; and in such case the statement of such fact in the report of sale shall have the same effect as a receipt for money paid upon a sale for cash.

Adopted June 17, 2003.

Leech Lake Ojibwe Real Est. Mortgage & Foreclosure Ord. Sec. II, § E, LLOjibwe REMAFO Sec. II, § E




LLOjibwe REMAFO Sec. II, § F
F. Surplus

When the sale is for cash, if after satisfying the mortgage debt, with costs and expenses, there is a surplus, it shall be brought into Court for the benefit of the mortgagor or the person entitled thereto, subject to the order of the Court. If such surplus remains in Court for three months without being applied for, the Judge may direct it to be put out at interest, subject to the order of the Court, for the benefit of the person entitled thereto, to be paid to them upon order of the Court.

Adopted June 17, 2003.

Leech Lake Ojibwe Real Est. Mortgage & Foreclosure Ord. Sec. II, § F, LLOjibwe REMAFO Sec. II, § F




LLOjibwe REMAFO Sec. II, § G
G. Report, Confirmation, Sale

Upon the coming in of the report of sale, the Court shall grant an order confirming the sale, or if it appears upon due examination that justice has not been done, it may order a resale on such terms as are just. If the sale is confirmed, the Chief Law Enforcement Officer shall forthwith execute the proper certificate of sale, which shall be recorded within thirty days after such confirmation.

Adopted June 17, 2003.

Leech Lake Ojibwe Real Est. Mortgage & Foreclosure Ord. Sec. II, § G, LLOjibwe REMAFO Sec. II, § G




LLOjibwe REMAFO Sec. II, § H
H. Satisfaction of Judgment, Execution for Deficiency

Upon confirmation of the report of sale, the Clerk shall enter satisfaction of the judgment to the extent of the sum bid for the premises, less expenses and costs, and for any balance of such judgment, execution may issue as in other cases; but no such execution shall issue on the judgment until after a sale of the mortgaged premises, and the application of the amount realized as aforesaid.

Adopted June 17, 2003.

Leech Lake Ojibwe Real Est. Mortgage & Foreclosure Ord. Sec. II, § H, LLOjibwe REMAFO Sec. II, § H




LLOjibwe REMAFO Sec. II, § I
I. Redemption by Mortgagor or Creditor

The mortgagor, or those claiming under him, within the time specified in this Code, after the date of the order of confirmation, may redeem the premises sold, or any separate portion thereof, by paying the amount bid therefore, with interest thereon from the time of sale at the rate provided to be paid on the mortgage debt, not to exceed four percent per annum, and, if no rate to be provided in the mortgage, at the rate of four percent, together with any further sum which may be payable pursuant to this Code. Creditors having a lien may redeem in the order and manner specified in this Code but no creditor shall be entitled to redeem unless within such specified redemption period he files with the Clerk notice of his intent to redeem.

Adopted June 17, 2003.

Leech Lake Ojibwe Real Est. Mortgage & Foreclosure Ord. Sec. II, § I, LLOjibwe REMAFO Sec. II, § I




LLOjibwe REMAFO Sec. II, § J
J. Delivery of Possession

When possession of a residence is wrongfully withheld after expiration of the time of redemption, the Court may compel delivery of possession to the party entitled thereto by order, directing the Chief Law Enforcement Officer to effect such delivery, after hearing to show cause on the merits.

Adopted June 17, 2003.

Leech Lake Ojibwe Real Est. Mortgage & Foreclosure Ord. Sec. II, § J, LLOjibwe REMAFO Sec. II, § J

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