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MO HB2579

Bill

Status

Introduced

2/18/2016

Primary Sponsor

Jeanne Kirkton

Click for details

Origin

House of Representatives

2016 Regular Session

AI Summary

  • 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

  • Imposes a $10 fee for filing each certificate of value, payable at the time of filing

  • 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

  • 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

  • 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

Committee Referrals

Banking5/13/2016

Full Bill Text

No bill text available