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MO HB2282
Bill
Status
4/1/2014
Primary Sponsor
Gail McCann Beatty
Click for details
AI Summary
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Repeals multiple sections of Missouri law (sections 443.290 through 443.410 and related provisions) that authorized nonjudicial foreclosure proceedings through power of sale in mortgages and deeds of trust.
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Requires all foreclosure proceedings to be handled judicially through court proceedings as provided in sections 443.190 to 443.280, effective August 28, 2014.
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Eliminates nonjudicial foreclosure notice and publication requirements that previously allowed trustees and mortgagees to foreclose without court involvement.
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Removes provisions allowing trustees to exercise power of sale, set sale times, continue sales, and issue trustee's deeds in foreclosure without judicial oversight.
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Makes conforming changes to related statutes concerning sheriff duties, deed of trust administration, sewer district liens, and foreclosure consultant regulations to align with judicial-only foreclosure requirements.
Legislative Description
Repeals the provisions regarding nonjudicial foreclosure proceedings and requires all foreclosure proceedings to be handled judicially beginning August 28, 2014
Last Action
Referred: Financial Institutions(H)
5/16/2014