MO HB1479

Allows security instruments to be assigned in writing with acknowledgment by the assignor and recorded in the recorder of deeds office in the county where the original security instrument was recorded

Protects parties who acquire property interests or liens for value and relied on a release from the party last shown on record as owner, even if an unrecorded assignment exists for security instruments recorded on or after January 1, 1986

Requires recorders of deeds to reject any security instrument or assignment where the mortgagee, trustee, or assignee is named as bearer or cannot be identified from the document, and mandates inclusion of a mailing address for the mortgagee, trustee, or assignee (though omission does not invalidate the instrument)

Establishes that security instruments securing purchase price or improvements to real property have priority over subsequently filed interests and liens, except for real estate tax liens, governmental claims, prior recorded instruments authorized by statute, and mechanics liens for labor, services, or materials rendered before the security instrument was recorded with actual notice to the debt holder