Minnesota -Petition for Release of Funds from Court Registry Account (Form P3-SB) — by Successor Business is a form used in the state of Minnesota to release funds from a court registry account to a successor business. It is used when the original business has ceased operations and transferred its assets and liabilities to a new business. It is necessary to provide proof of the transfer of assets to the successor business, as well as evidence that the new business is financially capable of managing the funds. The form must be signed by the successor business and submitted to the court for approval. The form contains several sections that must be completed, including the name of the successor business, the court in which the petition is being filed, the amount of money to be released from the registry account, and the name of the original business. Additionally, the form requires proof of the transfer of assets and liabilities to the successor business, as well as evidence of its financial capacity. There are two types of Minnesota -Petition for Release of Funds from Court Registry Account (Form P3-SB) — by Successor Business: Petition for Release of Funds from Court Registry Account — by Successor Business and Petition for Release of Funds from Court Registry Account — by New Business.