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MO HB526
Bill
Status
1/15/2015
Primary Sponsor
Gail McCann Beatty
Click for details
AI Summary
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Eliminates nonjudicial (power of sale) foreclosure proceedings in Missouri, requiring all foreclosures to proceed through the court system beginning August 28, 2015
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Repeals 22 existing statutory sections governing trustee sales, notice requirements for power of sale foreclosures, and related procedures under deeds of trust and mortgages
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Removes sheriff exemptions that previously allowed sheriffs in Class One counties and St. Louis to earn additional compensation as trustees in deed of trust foreclosures
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Deletes provisions allowing sewer districts to foreclose on delinquent fees through power of sale, requiring them to use judicial foreclosure instead
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Updates statutes of limitations and fraudulent transfer laws by removing references to nonjudicial foreclosure sales and power of sale proceedings
Legislative Description
Repeals the provisions regarding nonjudicial foreclosure proceedings and requires all foreclosure proceedings to be handled judicially beginning August 28, 2015
Last Action
Referred: Civil and Criminal Proceedings(H)
2/24/2015