Loading chat...
MO HB1750
Bill
Status
2/5/2014
Primary Sponsor
Rochelle Walton Gray
Click for details
AI Summary
-
Allows property owners to file a notarized notice of abandonment with the county recorder of deeds to relieve themselves of future maintenance obligations and liabilities related to the abandoned property.
-
Defines abandonment as intentional or purposeful relinquishment of ownership, title, interest, or possession in land, buildings, or real estate, with no intention to resume or vest rights in others.
-
Establishes a priority order for vesting abandoned property: joint/co-owners, tenants in possession, abutting/adjoining landowners, same-block landowners, condominium associations or subdivision trustees, lienholders, municipal governments, and finally the county.
-
Requires the recorder of deeds to post notices on abandoned property and mail notices to lienholders, neighboring property owners, and local governments within 45 days; interested parties have 45 days to elect to take ownership by filing a notarized written election with a $100 fee.
-
Relieves the abandoning party of prospective liabilities in rem running with the property after notice is recorded, but does not eliminate personal obligations that vested before the notice was filed.
Legislative Description
Changes the laws regarding abandoned property
Last Action
Referred: General Laws(H)
2/12/2014