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New Laws affecting real estate in Missouri

Dennis Norman

Dennis Norman

By: Dennis Norman

The Missouri Legislature passed several bills this past session affecting real estate or property in Missouri, most of which were signed into law by Governor Nixon and go into effect August 28, 2009.
Below is a brief synopsis of the new laws and their purpose based upon the bill summary.  (Unless noted different the new law goes into effect August 28, 2009- For the complete bill click on the bill number):
  • SB 231 – Exempts landlords from liability for loss or damage to tenant’s personal property when executing an order for possession of premises. Provides that except for willful, wanton, or malicious acts, landlords are not liable to any tenant for any loss or damages to household goods, furnishings, fixtures, or any other personal property left at or in the dwelling by reason of the landlord’s removal of the property under a court-ordered execution for possession of the premises.
  • HB 382 – Regulates residential mortgage brokers and loan originators – Requires that individuals acting as mortgage loan originators for residential property be licensed.  Mortgage loan originators must also be employed, act under the supervisions of a Missouri licensed residential mortgage broker, and register with the National Mortgage Licensing System and registry.  These requirements are not effective until July 31, 2010. 
  • HB 103 – Modifies provisions relating to public safety – Requires builders of single-family homes or multi-unit dwellings of four or fewer units to offer purchasers the option to install fire sprinklers.
  • HB 836 – Requires certain notices to occupants of residential property in cases of foreclosure before the new owner may bring an action seeking possession of the property. In cases where a foreclosed property is occupied by a residential tenant whose lease is not void due to certain illegal uses of the premises, then the new owner of the property must give the occupant of the property notice that the foreclosure sale has occurred, that they are the new owner of the property, and if the new owner seeks possession of the property, that the occupant has ten business days from the date of the notice to vacate the premises.  No unlawful detainer action or other action seeking possession of the premises may begin against the occupant until ten business days after the date the occupant is given notice that the foreclosure sale occurred.  (The “Helping Families Save Their Homes Act of 2009” which went into effect May 20, 2009 actually provides additional protections to tenant – see article)
  • HB 842 – Defines certain boat docks as real property for the purposes of real estate appraisers and modifies the definition of “commercial real estate” as it is used in licensing real estate brokers and agents  – This act defines boat docks as real property and specifies that they have riparian rights for the purpose of the law regarding real estate appraisers as long as the boat dock is included as a fixture in the lender’s deed of trust and a Uniform Commercial Code filing, the boat dock is attached to the real property, adn the owner of the dock has riparian rights by means of real estate rights bordering the body of water.  (I realize boat docks aren’t very common in St. Louis but many St. Louis area residents own property at lake of the Ozarks where this is a major issue).

This is not meant to be a list of all the legislation that was passed this year that affects real estate, these are just the items that I am aware of and that I feel may affect, or be of interest to, a number of people in the St. Louis area.

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