Property Law

HB 1063 – Property assessments. Changes from two to five years the cycle for determining the assessed valuation of real property for the purpose of real property taxation and limits assessment increases.

HB 1070 – Eminent domain. (See Eminent Domain Law)

HB 1093 – Adverse possession. Modifies the requirements for taking title of property by adverse possession.

HB 1133 – Notices of pendency of lawsuits. This bill requires that notices filed in the county real estate records advising of the pendency of a lawsuit with regard to a particular piece of property be removed from the records if the lawsuit is not filed within 60 days of the notice filing.

HB 1198 – Manufactured home liens. (See Commercial Law)

HB 1212 – Protections against financial exploitation of the elderly and disabled. ( See Elder Law)

*HB 1324 – Uniform Real Property Electronic Recording Act. (See also SB 924) Establishes the Uniform Real Property Electronic Recording Act and the Electronic Recording Commission. Allows the county recorder of deeds to accept deeds in an electronic format, and convert paper documents into electronic form for the purpose of indexing, storing, and archiving. Establishes the Electronic Recording Commission to adopt standards for implementing these provisions. Drafted by The Missouri Bar Property Law committee based on a model act proposed by the National Conference of Commissioners on Uniform State Laws.

HB 1363 – Eminent domain. (See Eminent Domain Law)

HB 1374 – Civil Liability of landowners. (See Tort Law)

HB 1458 – Prohibits sexual orientation based discrimination. (See Labor Law)

HB 1461 – Use of defensive force. (See Criminal Law)

HB 1473 – Notice of pendency. Requires the recorder of deeds to remove a notice of pendency of the suit from the record and index if the suit is not actually filed within ninety days from the date of recording the notice.

HB 1503 – Landlord-tenant law. Revises section 535.160 regarding landlord-tenant law. Requires a tenant-defendant to pay a money judgment after the original trial and before any application for or actual trial de novo.

HB 1533 – Eminent domain. Prohibits commencement of condemnation proceedings and tax abatement grants prior to January 1, 2007.

HJR 30 – Restricts power of eminent domain. (See Eminent Domain Law)

HJR 37 – Eminent domain. (See Eminent Domain Law)

SB 560 – Eminent domain. (See Eminent Domain Law)

*HB 1717 - Establishes the Uniform Residential Mortgage Satisfaction Act. In its main provisions, the bill:

(1) Defines “address for giving a notification,” “document of rescission,” “notification,” “payoff statement,” “security instrument,” and “sign”;

(2) Allows a person recording a satisfaction or affidavit of satisfaction of a security instrument in error to record a document of rescission canceling the erroneous satisfaction. A recorded document of rescission will not affect the rights of a person that acquired interest in the property prior to it being recorded;

(3) Allows an entitled person or his or her agent to request a payoff statement from the creditor including information on the payoff amount, applicable fees, payoff calculation, daily interest charge, and payment cutoff time. If the payoff statement amount was understated, the creditor can send a corrected payoff statement in a timely fashion. However, if the entitled person reasonably relied on the original payoff amount, the creditor cannot deny its accuracy;

(4) Requires creditors to submit a satisfaction for recording stating that a secured obligation has been fully satisfied. A secured obligation cannot be fully performed until all lines of credit are terminated. If a satisfaction for recording is not submitted within 45 days of receipt, the creditor will be liable to the landowner for any actual damages caused by the failure plus an additional amount equal to the lesser of $300 per day or 10% of the original principal amount of the security instrument;

(5) Specifies that secured creditors are not liable if they established reasonable procedures to comply with their obligations, complied in good faith, and were unable to comply due to circumstances beyond their control;

(6) Allows title insurance companies and licensed attorneys to serve as satisfaction agents;

(7) Allows a satisfaction agent to submit an affidavit of satisfaction for the landowner if the secured creditor has not submitted for recording a satisfaction of a security instrument. The satisfaction agent will notify the secured creditor of his or her intent. An affidavit of satisfaction may not be completed if the secured obligation remains unsatisfied;

(8) Specifies the information that must be included in a satisfaction or an affidavit of satisfaction;

(9) Makes any satisfaction agent liable to the secured creditor for any actual damage caused by knowingly recording an affidavit of satisfaction erroneously and subject to enforcement of any criminal statute prohibiting this conduct and any punitive damages as a result; and

(10) Requires that consideration be given to the need to promote uniformity of law with respect to its subject matter among the states that enact an uniform residential satisfaction act. The act may modify, limit, and supercede the Federal Electronic Signatures in Global and National Commerce Act, 15 U.S.C. 7001, but may not modify, limit, or supercede Section 101(c) of the federal act, 15 U.S.C. Section 7001(c), or authorize electronic delivery of any notice described in Section 103(b) of the federal act, 15 U.S.C. Section 7003(b).

Drafted by The Missouri Bar Property Law Committee based on a model act proposed by the National Conference of Commissioners on Uniform State Laws.

SB 659 – Residential property insurance. An insurer may cancel a homeowner’s policy if physical changes in the property insured have significantly increased the hazards originally insured. Requires the insurer to give the insured 60 days notice prior to canceling the insured’s policy (current law is 30 days). The insurer must also give the insured 60 days of its intention not to renew a policy. Prohibits homeowner insurance companies from considering an inquiry made by the insured as to whether the policy covers a certain loss or whether the policy provides a certain type or level of coverage a claim. Prohibits homeowner insurance companies from refusing to renew a policy on the basis of a weather-related claim. Prohibits insurers from using a rating plan or a rating system which surcharges the insured’s dwelling fire or homeowners insurance premium based upon the insured’s weather-related claims or upon inquiries into whether the policy covers certain losses. Changes the Missouri Basic Property Insurance Inspection and Placement Program to the Fair Access to Insurance Requirements (FAIR) plan to make property insurance more readily available to people who can’t obtain it from private insurers because their property is considered “high risk”. Under the act, the FAIR plan will offer dwelling fire, commercial fire and homeowners coverage for property owners, renters, and condominium owners. These coverages shall be similar to what is available in the standard market and provide protection against loss from various hazards.

SB 672 - Tax increment financing law. (See Taxation Law)

SB 716 – Prohibits discrimination. (See Labor Law)

SB 745 - Billboards. Prohibits conditional granting of permits or licenses upon billboard removal without just compensation.

SB 771 - Liens on real property. (See Judicial Administration)

SB 888 - Title insurance. Makes numerous changes to and reorganizes the Missouri Title Insurance Act. The Missouri Title Insurance Act was substantially modified in 2000 by SB 894 but was later declared unconstitutional by the Missouri Supreme Court due to Hammerschmidt problems.

*SB 924 – Uniform Real Property Electronic Recording Act. (See also HB 1324) Establishes the Uniform Real Property Electronic Recording Act and the Electronic Recording Commission. Allows the county recorder of deeds to accept deeds in an electronic format, and convert paper documents into electronic form for the purpose of indexing, storing, and archiving. Establishes the Electronic Recording Commission to adopt standards for implementing these provisions.

Drafted by The Missouri Bar Property Law Committee based on a model act proposed by the National Conference of Commissioners on Uniform State Laws.

SJR 28 – Eminent domain. (See Eminent Domain Law)

SJR 29 – Eminent domain. (See Eminent Domain Law)