Form Mrt1 - Mortgage Registry Tax

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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
Name of Lender
1 New debt being secured
2 New Debt Subject to Tax
3 Mortgage Tax Due
4 Reason Code
with this instrument
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
Daytime Phone
Website: Email:
Phone: 651-556-4721.
Reason Codes
1 Supplemental Mortgage
7 Mortgage executed as part of a plan of reorganization under a Chap-
ter 11 or Chapter 12 bankruptcy case. (Federal bankruptcy codes
This instrument is modifying an existing mortgage and
1146[a] and 1231[a])
securing a new debt.
8 Mortgage secured by real property subject to the minerals produc-
1. Debt Secured After
tion tax. (M.S. 298.24 to 298.28)
9 Mortgage loan made under a low and moderate income or other
2. Principle Balance Before
affordable housing program if the mortgagee is a federal, state, or
( _______________________ )
local government agency. (Revenue Notice # 01-05)
3. New Debt Subject to Tax
10 A mortgage granted by a Fraternal Benefit Society (borrower).
(Subtract Line 2 from Line 1.
(M.S. 64B)
Enter in boxes 1 and 2 at top)
11 Reverse Mortgage/Home Equity Conversion Mortgage — tax is due
2 Additional Security
on the expected total disbursements less interest, mortgage insurance
This is a new and separate mortgage that provides additional
premiums, and lender service fees. (M.S. 287.05, subd. 6)
security for an outstanding debt for which tax has already
12 Agricultural mortgage whose proceeds are being used to acquire or
been paid. (M.S. 287.01.04[c]).
improve Minnesota real property that is or will be used for the pro-
duction of agricultural products. Includes prior qualifying loans that
Tax Paid ____________________________________________________
are being re-financed. Note: The exemption does not apply to the
County _____________________________________________________
portion of the proceeds used for nonexempt purposes (e.g., house,
residential-use garage, machinery and seed).
Document # _________________________________________________
13 Mortgage encumbering real property located within the boundaries
3 Limiting Clause
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) pur-
The limiting clause can be used when a lender chooses to secure
chasing the property from the tribe or a member of the tribe and the
only a portion of the debt amount recited in the mortgage.
mortgage is a purchase-money mortgage.
“Notwithstanding anything to the contrary herein,
14 Shariah Compliant Mortgage.
enforcement of this mortgage is limited to a debt amount of
15 Federal Government and Agencies
$ ________________________________________________
• Farm Service Agency
• Federal Financing Bank
under M.S. 287.05, subd. 1a.”
• Federal Home Loan Mortgage Corporation (“Freddie Mac”)
• Federal National Mortgage Association (“Fannie Mae”)
4 Mortgage Amendment
• Government National Mortgage Association (“Ginnie Mae”)
This is a mortgage amendment, as defined in M.S. 287.01, subd. 2,
• Commodity Credit Corporation
and does not secure a new or increase an exisitng debt.
• National Consumer Cooperative Bank
• U.S. Small Business Administration (SBA)
5 Decree of marriage dissolution or an instrument made pursuant to it.
• Certified Development Companies
6 Mortgage given to correct a misdescription of the mortgaged
• USDA Rural Development
• Farm Credit Banks
– Agribank, FCB
(Rev. 1/18)


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