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MO SB433

Bill

Status

Introduced

3/1/2011

Primary Sponsor

Will Kraus

Click for details

Origin

Senate

2011 Regular Session

AI Summary

  • Requires any beneficiary who is not the originating beneficiary on a deed of trust to record a summary document containing the full name and address of every prior beneficiary and the date, recordation number, and description of each instrument that conveyed the beneficiary's interest.

  • Mandates that the summary document be recorded at the same time and place as the notice of trustee's sale under section 443.320 and a copy be attached to any notice of trustee's sale otherwise required by law.

  • Makes a trustee's sale voidable if the beneficiary fails to properly record the summary document demonstrating evidence of title as of the date of the trustee's sale.

  • Allows any person with an interest in the trust property to file an action to void the trustee's sale for non-compliance and to receive attorney fees and damages if they substantially prevail, including attorney fees for any injunction or provisional remedies.

Legislative Description

Modifies the law relating to deeds of trust

Last Action

Second Read and Referred S Judiciary and Civil and Criminal Jurisprudence Committee

3/10/2011

Committee Referrals

Judiciary And Civil And Criminal Jurisprudence3/10/2011

Full Bill Text

No bill text available