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MO HB1718
Bill
Status
2/4/2014
Primary Sponsor
Donald Phillips
Click for details
AI Summary
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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.
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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.
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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.
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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.
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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