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MO HB2579
Bill
Status
2/18/2016
Primary Sponsor
Jeanne Kirkton
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AI Summary
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Requires a "certificate of value" to be filed with the county assessor before any deed transferring real property can be recorded, with the certificate reporting whether the transaction was at arm's length, the full actual consideration paid, and the intended use of the property
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Imposes a $10 fee for filing each certificate of value, payable at the time of filing
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Exempts certain transfers from the financial disclosure requirement, including transfers under $100, transfers between spouses or parent and child, foreclosures, tax sales, court-ordered transfers, and transfers involving government entities
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Makes certificate of value information confidential closed records exempt from public disclosure under Chapter 610, with limited exceptions for statistical use by assessors, the state tax commission, and state auditors
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Effective date of January 1, 2017, with the State Tax Commission responsible for providing blank certificate forms to recorders throughout the state
Legislative Description
Changes the laws regarding real property to require the filing of a certificate of value before filing a document transferring interest in real property
Last Action
Referred: Banking(H)
5/13/2016