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MO HB1718

Bill

Status

Introduced

2/4/2014

Primary Sponsor

Donald Phillips

Click for details

Origin

House of Representatives

2014 Regular Session

AI Summary

  • Title search fees for tax certificate sales are capped at the average title search fee for the county as determined by the county collector, unless the collector approves a higher amount.

  • Purchasers of property at delinquent land tax auctions must obtain a title search report from a licensed attorney or licensed title company, with the report becoming invalid if more than 120 days old when applying for a collector's deed.

  • Purchasers must notify the property owner and holders of recorded claims at least 90 days before acquiring a deed, using both first class and certified mail with specific documentation requirements.

  • If property is redeemed, the person redeeming must reimburse the purchaser for costs including the title search, postage, recording fees, and all other sale costs.

  • Purchasers who fail to comply with the notice and documentation requirements outlined in this section forfeit all interest in the real estate.

Legislative Description

Changes the laws regarding title search fees

Last Action

Referred: Ways and Means(H)

2/12/2014

Committee Referrals

Ways And Means2/12/2014

Full Bill Text

No bill text available