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What Is A Replevin?

In Minnesota, a creditor is allowed to take possession of certain property after serving the debtor with a Summons and Complaint, prior to the entry of judgment. This is accomplished by initiating a replevin action, which typically requires a creditor to post a bond for 11/4 to 11/2 times the value of the property. The replevin action in Minnesota requires the filing of an affidavit by counsel for the creditor specifically setting forth the basis for the creditors right to possession of the property. Typically, a replevin action is initiated when the creditor has a perfected security interest in specific property. Although Minnesota usually allows a creditor to practice selfhelp, a replevin action is recommended when selfhelp will breach the peace.

Other Minnesota Collections-Creditors Rights FAQs

Q: What Is The Statute Of Limitations In Minnesota?
A: Fouryear statute of limitations sales arising under Article II of the Uniform Commercial Code (ie. the sale of goods between merchants). Sixyear … More
Q: What Is The Pre-Judgment Rate Of Interest?
A: The legal prejudgment rate of interest is 6% per annum, unless the parties have contracted for a different rate. A written contract may provide for a rate of … More
Q: Is A Confession Of Judgment Allowed?
A: A confession of judgment is allowed in Minnesota when signed and verified by the debtor. However, a confession of judgment is not enforceable in the state of Minnesota … More
Q: Can A Foreign Judgment Be Used In Minnesota?
A: Minnesota has adopted the Uniform Enforcement of Foreign Judgments Act. Therefore, any foreign judgment can be entered in Minnesota by filing either a certified or … More

Collections-Creditors Rights Sub-categories

Chex Systems
Collections
Creditor Remedies in Bankruptcy
Debt Collections
Enforcement of Judgments
Fair Credit Reporting Act
Fair Debt Collection Practices Act

Identity Theft
Judicial Remedies
Mortgage Foreclosure
Non-Judicial Remedies
Secured Transactions
Types of Creditors