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MO HB1633

Bill

Official Source

Status

Introduced

2/2/2012

Primary Sponsor

Rochelle Walton Gray

Click for details

Origin

House of Representatives

2012 Regular Session

AI Summary

  • Co-owners who fail to pay their proportional share of delinquent real estate taxes or mortgage payments after a foreclosure or tax sale notice is published lose their ownership rights and interest in the property
  • The co-owner's share of rights, title, and interest automatically transfers to the co-owner(s) who pay the delinquent taxes or mortgage payments to cancel the foreclosure or tax sale notice
  • A co-owner paying delinquent taxes or mortgage payments may file a circuit court action to formally declare the defaulting co-owner divested of their property interest and vest full ownership rights in the paying party
  • The law applies to joint tenants, tenants in common, and any person with an undivided joint or common interest in real property

Legislative Description

Changes the laws regarding delinquent real estate taxes or mortgage notes

Last Action

Referred: Financial Institutions (H)

4/12/2012

Committee Referrals

Financial Institutions4/12/2012

Full Bill Text

No bill text available