| 1 | 1 | | FIRSTREGULARSESSION |
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| 2 | 2 | | HOUSEBILLNO.323 |
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| 3 | 3 | | 103RDGENERALASSEMBLY |
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| 4 | 4 | | INTRODUCEDBYREPRESENTATIVEAMATO. |
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| 5 | 5 | | 0171H.01I DANARADEMANMILLER,ChiefClerk |
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| 6 | 6 | | ANACT |
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| 7 | 7 | | Toamendchapter59,RSMo,byaddingtheretoonenewsectionrelatingtorealproperty |
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| 8 | 8 | | fraudprevention. |
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| 9 | 9 | | BeitenactedbytheGeneralAssemblyofthestateofMissouri,asfollows: |
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| 10 | 10 | | SectionA.Chapter59,RSMo,isamendedbyaddingtheretoonenewsection,tobe |
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| 11 | 11 | | 2knownassection59.306,toreadasfollows: |
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| 12 | 12 | | 59.306.1.Thissectionshallbeknownandmaybecitedas"TheRealProperty |
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| 13 | 13 | | 2FraudPreventionAct". |
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| 14 | 14 | | 3 2.Therecorderofdeedsofeachcountyofthisstateshallprovidenoticeas |
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| 15 | 15 | | 4requiredunderthissectiontoeachpropertyownerorownerofrecordofaparcelofreal |
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| 16 | 16 | | 5property,asdeterminedbythemostrecentrealpropertytaxrecords,thatageneral |
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| 17 | 17 | | 6warrantydeedorquitclaimdeedthataffectstheownershipofsuchparcelofreal |
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| 18 | 18 | | 7propertyhasbeensubmittedforrecording. |
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| 19 | 19 | | 8 3.Therecorderofdeedsshall: |
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| 20 | 20 | | 9 (1)Delaytherecordingofadeeddescribedundersubsection2ofthissectionfor |
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| 21 | 21 | | 10atleastfiveworkingdaysfromthedateofsuchdeed'sreceipttoprovidetimeforthe |
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| 22 | 22 | | 11recorderofdeedstonotifyeachpropertyownerorownerofrecordofsuchparcelof |
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| 23 | 23 | | 12realpropertythatsuchdeedhasbeensubmittedforrecording; |
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| 24 | 24 | | 13 (2)Notifyeachpropertyownerorownerofrecordofsuchparcelofreal |
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| 25 | 25 | | 14propertybytelephone,textmessage,facsimile,oremail,ifsuchinformationisknown; |
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| 26 | 26 | | 15and |
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| 27 | 27 | | 16 (3)Sendsuchnotificationbyfirstclassmailtotheaddressofrecordofeach |
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| 28 | 28 | | 17propertyownerorownerofrecordofsuchparcelofrealpropertyinformingsuch |
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| 29 | 29 | | EXPLANATION—Matterenclosedinbold-facedbrackets[thus] intheabovebillisnotenactedandis |
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| 30 | 30 | | intendedtobeomittedfromthelaw.Matterinbold-facetypeintheabovebillisproposedlanguage. 18ownerthatadeedthataffectssuchowner'sownershipinterestintherealproperty |
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| 31 | 31 | | 19describedbysuchdeedhasbeensubmittedforrecording. |
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| 32 | 32 | | 20 4.(1)Ifeachpropertyownerorownerofrecordofsuchparcelofrealproperty |
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| 33 | 33 | | 21provideswrittenconfirmationthatthedeedpresentedforrecordingislegitimate,the |
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| 34 | 34 | | 22delayrequiredundersubdivision(1)ofsubsection3ofthissectionshallnolongerapply |
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| 35 | 35 | | 23andtherecorderofdeedsmayimmediatelyproceedwiththerecordingofthedeed. |
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| 36 | 36 | | 24 (2)If,priortotheexpirationofthedelayrequiredundersubdivision(1)of |
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| 37 | 37 | | 25subsection3ofthissection,therecorderofdeedsisnotifiedbyeachpropertyowneror |
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| 38 | 38 | | 26ownerofrecordofsuchparcelofrealpropertythatsuchdeedisfraudulent,the |
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| 39 | 39 | | 27recorderofdeedsshalldelaytherecordingofthedeedforatleastanadditionaltwo |
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| 40 | 40 | | 28businessdaystoprovidetimeforeachpropertyownerorownerofrecordofsuchparcel |
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| 41 | 41 | | 29ofrealpropertytoseekanorderfromacourtofcompetentjurisdictiontoprohibitthe |
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| 42 | 42 | | 30recordingoftheapparentlyfraudulentdeed. |
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| 43 | 43 | | 31 5.Therecorderofdeedsshallnotdelaytherecordingofageneralwarrantydeed |
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| 44 | 44 | | 32orquitclaimdeedasrequiredunderthissectionifatleastoneofthefollowing |
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| 45 | 45 | | 33conditionshasbeenmet: |
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| 46 | 46 | | 34 (1)Thegeneralwarrantydeedorquitclaimdeedpresentedforrecordingwas |
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| 47 | 47 | | 35submittedbyarealestatebrokerwhoholdsavalidMissourirealestatebrokerlicense |
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| 48 | 48 | | 36underchapter339;or |
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| 49 | 49 | | 37 (2)Thegeneralwarrantydeedorquitclaimdeedpresentedforrecordingwas |
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| 50 | 50 | | 38reviewedbyatitlecompanythatisdulylicensedunderchapter381andsuchtitle |
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| 51 | 51 | | 39companyhasissuedtitleinsurancetoguarantythevalidityofthedeedforthe |
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| 52 | 52 | | 40prospectiveownerorownersofsuchparcelofrealproperty. |
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| 53 | 53 | | 41 6.(1)Asusedinthissubsection,"defectivedeed"meansadeedthat: |
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| 54 | 54 | | 42 (a)Failstoprovideadequategranteeorgrantorinformation; |
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| 55 | 55 | | 43 (b)Failstoprovideaproperdescriptionoftheparcelofrealpropertybeing |
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| 56 | 56 | | 44transferred; |
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| 57 | 57 | | 45 (c)Lacksthesignatureofagrantor; |
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| 58 | 58 | | 46 (d)Doesnothaveapropernotaryacknowledgmentandsealundersections |
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| 59 | 59 | | 47486.730and486.760;or |
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| 60 | 60 | | 48 (e)Isnotarizedbyanotarywhosecommissionhasexpiredpriortonotarizing |
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| 61 | 61 | | 49thedeed. |
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| 62 | 62 | | 50 (2)Therecorderofdeedsofeachcountyofthisstateisherebyauthorizedto |
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| 63 | 63 | | 51rejectandreturnageneralwarrantydeedorquitclaimdeedthathasbeendeemedby |
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| 64 | 64 | | 52therecorderofdeedstobeadefectivedeed. |
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| 65 | 65 | | âś” |
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| 66 | 66 | | HB323 2 |
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