Princeton, Minn., City Code title 3 ch. 358 (2026) § 358.15
Transfer of license
Operative Text
358.15 Transfer of license. A rental dwelling license is transferable and shall automatically be transferred to the new owner on closing on the sale of the licensed building. The new owner must apply for a new rental dwelling license once the rental dwelling license expires for said building consistent with this Article.
Under Princeton, MN City Code § 358.15, a rental dwelling license does not become void when a licensed building changes hands. Instead, the existing license transfers automatically to the new owner at the moment of closing. Once that transferred license reaches its expiration date, the new owner is then responsible for obtaining a fresh rental dwelling license under the same rules that govern all applicants.
Plain English — not legal advice.
Property owners and managers should be aware that under § 358.15, purchasing a licensed rental building in Princeton means the current license carries over to them automatically at closing — no mid-term relicensing action is required at that point. However, compliant operators track the expiration date of the transferred license and submit a new rental dwelling license application before it lapses, following the requirements set out in the Article. Keeping a calendar reminder tied to the license expiration date is a common practice for staying in good standing.
General guidance for property managers — not legal advice for your specific situation. Consult an attorney for advice on your case.
Section § 358.15 establishes that a change in building ownership does not interrupt the validity of an existing rental dwelling license, which may be relevant if questions arise about whether a building is properly licensed after a sale. Tenants who have concerns about licensing status following an ownership transfer can inquire with the City of Princeton or review public licensing records to confirm the building remains covered. Tenant-rights organizations can help residents understand what a lapse in licensing — if one were to occur after the transferred license expires — might mean for their situation.
General guidance for tenants — not legal advice for your specific situation. Consult a tenant-rights organization or attorney for advice on your case.
Generated November 13, 2026 — auto-generated, not yet human-reviewed. See /transparency for methodology.
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