No, not by that name. Minnesota Statutes chapter 515B requires common interest communities to budget adequate replacement reserves and to reevaluate their adequacy at least every third year, but it does not require a formal reserve study or say who must prepare one.
Last verified October 12, 2026 by ReservePath research.
| Reserve study required | No statewide requirement found |
|---|---|
| Applies to | Not applicable |
| How often | No interval set by statute |
| Site inspection required | No statewide rule found |
Minnesota Statutes chapter 515B does not require a reserve study. It does require the association to reevaluate the adequacy of its budgeted replacement reserves at least every third year after the declaration is recorded [Minn. Stat. 515B.3-1141(a)(4)]. (see sources)
We found no statewide rule on this in the statutes listed under Sources.
We found no statewide rule on this in the statutes listed under Sources.
Annual budgets must include replacement reserves that the board projects to be adequate to replace the components the association must replace, based on the estimated remaining useful life of each component. Reserves are not needed for components with a remaining useful life of more than 30 years or for components funded by certain assessments. Replacement reserves must be kept in accounts separate from operating funds and may not be used or borrowed for operating expenses. After declarant control ends, the board and owners holding 51 percent of the votes (not counting the declarant) may approve not assessing for components that will be paid for by special assessments, for the current and three following fiscal years. The rules do not apply to communities restricted to nonresidential use. [Minn. Stat. 515B.3-1141] (see sources)
The resale disclosure certificate form lists the components the association is obligated to replace and the amount in its reserves for those components [Minn. Stat. 515B.4-107]. Under Laws 2026, chapter 82, section 12, effective January 1, 2027, the seller must also give the buyer a copy of any reserve study the association obtained within the past three years to evaluate the adequacy of its replacement reserve contributions. (see sources)
We found no statewide rule on this in the statutes listed under Sources.
ReservePath supports full studies, updates with a site visit and updates without one, 30-year funding projections, and study renewal reminders based on the cycle you set for each study. It includes in-app compliance guidance for each state as a starting point. The preparer and the association's attorney remain responsible for confirming what the law requires.
Minnesota Statutes chapter 515B does not require a reserve study. It does require the association to reevaluate the adequacy of its budgeted replacement reserves at least every third year after the declaration is recorded [Minn. Stat. 515B.3-1141(a)(4)].
Annual budgets must include replacement reserves that the board projects to be adequate to replace the components the association must replace, based on the estimated remaining useful life of each component. Reserves are not needed for components with a remaining useful life of more than 30 years or for components funded by certain assessments. Replacement reserves must be kept in accounts separate from operating funds and may not be used or borrowed for operating expenses. After declarant control ends, the board and owners holding 51 percent of the votes (not counting the declarant) may approve not assessing for components that will be paid for by special assessments, for the current and three following fiscal years. The rules do not apply to communities restricted to nonresidential use. [Minn. Stat. 515B.3-1141]
The resale disclosure certificate form lists the components the association is obligated to replace and the amount in its reserves for those components [Minn. Stat. 515B.4-107]. Under Laws 2026, chapter 82, section 12, effective January 1, 2027, the seller must also give the buyer a copy of any reserve study the association obtained within the past three years to evaluate the adequacy of its replacement reserve contributions.
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