HB 209 -- Mortgage Value Disclosure Statements

Sponsor:  Kirkton

This bill requires a mortgage value disclosure statement
containing the amount of the full actual consideration paid or to
be paid, a statement that the transaction was at arms length, a
statement of the actual or intended use of the property, and a
$10 filing fee to be filed with the assessor before the recorder
of deeds can accept the filing of any document by which any lands
or other interest in certain real property are conveyed to the
purchaser or any other person.  One copy of the mortgage value
disclosure statement will be forwarded to the State Tax
Commission for use on certain administrative tasks and one
retained by the assessor for the purpose of assisting in the
implementation of a general reassessment or an assessment and
equalization maintenance plan.  Certain exemptions from the
requirements and penalties for violations are specified.

The bill becomes effective January 1, 2010.

Missouri House of Representatives
95th General Assembly, 1st Regular Session
Last Updated November 17, 2009 at 9:24 am