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MO HB267
Bill
Status
1/23/2013
Primary Sponsor
Rochelle Walton Gray
Click for details
AI Summary
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Co-owners, joint tenants, or others with undivided interests in property who fail to pay their pro rata share of delinquent real estate taxes or mortgage payments after foreclosure or tax sale notice is published shall lose their rights and interest in the property.
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The share of a non-paying co-owner vests automatically in the co-owner(s) who pay the delinquent taxes or mortgage payments needed to cancel the foreclosure or tax sale notice.
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The co-owner making the delinquent payments may file a circuit court action to formally declare the defaulting party divested and the paying party vested with the defaulting party's property rights, title, and interest.
Legislative Description
Changes the laws regarding delinquent real estate taxes or mortgage notes
Last Action
Referred: Financial Institutions(H)
5/17/2013