Financial charges (§ 504b.151) – If a lessor has obtained a contract for the termination of the deed in accordance with article 559.21, the landlord must inform the tenant of this information and may not enter into a periodic rental agreement of more than two (2) months. The Minnesota Standard Residential Lease Agreement is an official model for homeowners in Minnesota, which is used to establish a binding contract with respect to the lease of a unit for a standard term of one (1) year. The form was established by the Minnesota Bar Association, the fact being that the form complies with the state`s landlord-tenant laws and contains sufficient safeguards for both the landlord and tenant. .