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MO HB2282

Bill

Status

Introduced

4/1/2014

Primary Sponsor

Gail McCann Beatty

Click for details

Origin

House of Representatives

2014 Regular Session

AI Summary

  • 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.

  • Requires all foreclosure proceedings to be handled judicially through court proceedings as provided in sections 443.190 to 443.280, effective August 28, 2014.

  • Eliminates nonjudicial foreclosure notice and publication requirements that previously allowed trustees and mortgagees to foreclose without court involvement.

  • Removes provisions allowing trustees to exercise power of sale, set sale times, continue sales, and issue trustee's deeds in foreclosure without judicial oversight.

  • 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

Committee Referrals

Financial Institutions5/16/2014

Full Bill Text

No bill text available