Minnesota Judgment Interest Information is the interest rate applied to judgments issued by courts in the state of Minnesota. The interest rate is designed to compensate the prevailing party in a legal dispute for the amount of time they have to wait for the judgment to be paid out. The rate is set by Minnesota state law and is based on the federal short-term interest rate. There are two types of Minnesota Judgment Interest Information. The first is the statutory rate, which is set at 4.25% for judgments entered on or after July 1, 2020. The second is the variable rate, which is based on the Federal Reserve’s prime rate and is updated quarterly. The variable rate is currently 5.25%.
Minnesota Judgment Interest Information
State:
Minnesota
Control #:
MN-SKU-1688
Format:
PDF
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Description
Judgment Interest Information
Minnesota Judgment Interest Information is the interest rate applied to judgments issued by courts in the state of Minnesota. The interest rate is designed to compensate the prevailing party in a legal dispute for the amount of time they have to wait for the judgment to be paid out. The rate is set by Minnesota state law and is based on the federal short-term interest rate. There are two types of Minnesota Judgment Interest Information. The first is the statutory rate, which is set at 4.25% for judgments entered on or after July 1, 2020. The second is the variable rate, which is based on the Federal Reserve’s prime rate and is updated quarterly. The variable rate is currently 5.25%.
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