FIRSTREGULARSESSION
HOUSEBILLNO.323
103RDGENERALASSEMBLY
INTRODUCEDBYREPRESENTATIVEAMATO.
0171H.01I DANARADEMANMILLER,ChiefClerk
ANACT
Toamendchapter59,RSMo,byaddingtheretoonenewsectionrelatingtorealproperty
fraudprevention.
BeitenactedbytheGeneralAssemblyofthestateofMissouri,asfollows:
SectionA.Chapter59,RSMo,isamendedbyaddingtheretoonenewsection,tobe
2knownassection59.306,toreadasfollows:
59.306.1.Thissectionshallbeknownandmaybecitedas"TheRealProperty
2FraudPreventionAct".
3 2.Therecorderofdeedsofeachcountyofthisstateshallprovidenoticeas
4requiredunderthissectiontoeachpropertyownerorownerofrecordofaparcelofreal
5property,asdeterminedbythemostrecentrealpropertytaxrecords,thatageneral
6warrantydeedorquitclaimdeedthataffectstheownershipofsuchparcelofreal
7propertyhasbeensubmittedforrecording.
8 3.Therecorderofdeedsshall:
9 (1)Delaytherecordingofadeeddescribedundersubsection2ofthissectionfor
10atleastfiveworkingdaysfromthedateofsuchdeed'sreceipttoprovidetimeforthe
11recorderofdeedstonotifyeachpropertyownerorownerofrecordofsuchparcelof
12realpropertythatsuchdeedhasbeensubmittedforrecording;
13 (2)Notifyeachpropertyownerorownerofrecordofsuchparcelofreal
14propertybytelephone,textmessage,facsimile,oremail,ifsuchinformationisknown;
15and
16 (3)Sendsuchnotificationbyfirstclassmailtotheaddressofrecordofeach
17propertyownerorownerofrecordofsuchparcelofrealpropertyinformingsuch
EXPLANATION—Matterenclosedinbold-facedbrackets[thus] intheabovebillisnotenactedandis
intendedtobeomittedfromthelaw.Matterinbold-facetypeintheabovebillisproposedlanguage. 18ownerthatadeedthataffectssuchowner'sownershipinterestintherealproperty
19describedbysuchdeedhasbeensubmittedforrecording.
20 4.(1)Ifeachpropertyownerorownerofrecordofsuchparcelofrealproperty
21provideswrittenconfirmationthatthedeedpresentedforrecordingislegitimate,the
22delayrequiredundersubdivision(1)ofsubsection3ofthissectionshallnolongerapply
23andtherecorderofdeedsmayimmediatelyproceedwiththerecordingofthedeed.
24 (2)If,priortotheexpirationofthedelayrequiredundersubdivision(1)of
25subsection3ofthissection,therecorderofdeedsisnotifiedbyeachpropertyowneror
26ownerofrecordofsuchparcelofrealpropertythatsuchdeedisfraudulent,the
27recorderofdeedsshalldelaytherecordingofthedeedforatleastanadditionaltwo
28businessdaystoprovidetimeforeachpropertyownerorownerofrecordofsuchparcel
29ofrealpropertytoseekanorderfromacourtofcompetentjurisdictiontoprohibitthe
30recordingoftheapparentlyfraudulentdeed.
31 5.Therecorderofdeedsshallnotdelaytherecordingofageneralwarrantydeed
32orquitclaimdeedasrequiredunderthissectionifatleastoneofthefollowing
33conditionshasbeenmet:
34 (1)Thegeneralwarrantydeedorquitclaimdeedpresentedforrecordingwas
35submittedbyarealestatebrokerwhoholdsavalidMissourirealestatebrokerlicense
36underchapter339;or
37 (2)Thegeneralwarrantydeedorquitclaimdeedpresentedforrecordingwas
38reviewedbyatitlecompanythatisdulylicensedunderchapter381andsuchtitle
39companyhasissuedtitleinsurancetoguarantythevalidityofthedeedforthe
40prospectiveownerorownersofsuchparcelofrealproperty.
41 6.(1)Asusedinthissubsection,"defectivedeed"meansadeedthat:
42 (a)Failstoprovideadequategranteeorgrantorinformation;
43 (b)Failstoprovideaproperdescriptionoftheparcelofrealpropertybeing
44transferred;
45 (c)Lacksthesignatureofagrantor;
46 (d)Doesnothaveapropernotaryacknowledgmentandsealundersections
47486.730and486.760;or
48 (e)Isnotarizedbyanotarywhosecommissionhasexpiredpriortonotarizing
49thedeed.
50 (2)Therecorderofdeedsofeachcountyofthisstateisherebyauthorizedto
51rejectandreturnageneralwarrantydeedorquitclaimdeedthathasbeendeemedby
52therecorderofdeedstobeadefectivedeed.
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HB323 2