HB 1975 -- Mortgage Value Disclosure Statements

Sponsor:  Bivins

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 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 disclosure
statement will be forwarded to the State Tax Commission for
developing ratios and other statistical purposes or public
proceedings 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 provisions of the bill are specified.

The bill becomes effective January 1, 2011.

Missouri House of Representatives
95th General Assembly, 2nd Regular Session
Last Updated September 14, 2010 at 3:12 pm