Missouri Laws 443.390 – Trustee’s deed not to be accepted by recorder in certain cities or counties ..
In all cities in this state which now have or which may hereafter have three hundred fifty thousand inhabitants or more and in all counties in this state of the first class, no trustee‘s deed or mortgagee‘s deed under power of sale in foreclosure of any security instrument recorded prior to January 1, 1986, shall be accepted by the recorder of deeds for record unless:
(1) The principal note or notes or other principal obligations which were unpaid when the foreclosure sale commenced and for the default in payment of which foreclosure is had, are produced to the recorder; or
Terms Used In Missouri Laws 443.390
- Affidavit: A written statement of facts confirmed by the oath of the party making it, before a notary or officer having authority to administer oaths.
- Deed: The legal instrument used to transfer title in real property from one person to another.
- following: when used by way of reference to any section of the statutes, mean the section next preceding or next following that in which the reference is made, unless some other section is expressly designated in the reference. See Missouri Laws 1.020
- Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. Source: OCC
- hereafter: means the time after the statute containing it takes effect. See Missouri Laws 1.020
- Mortgagee: The person to whom property is mortgaged and who has loaned the money.
- Property: includes real and personal property. See Missouri Laws 1.020
- Security instrument: as that term is used in this chapter, shall mean any mortgage, deed of trust or other real property security instrument securing the payment or satisfaction of any debt or other obligation. See Missouri Laws 443.005
- State: when applied to any of the United States, includes the District of Columbia and the territories, and the words "United States" includes such district and territories. See Missouri Laws 1.020
- Trustee: A person or institution holding and administering property in trust.
(2) If such notes are lost then the owner of the principal notes or obligations makes an affidavit that such notes are lost and produces such affidavit for the recorder. Upon such trustee’s or mortgagee’s deed being filed for record, the recorder shall make a notation on the principal note or notes or other principal obligations showing that such deed in foreclosure has been filed of record, in substantially the following form:
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| “Deed under foreclosure filed ______, 20______ | ||
| __________________ | Recorder” | |
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Except, whenever any trustee’s deed or mortgagee’s deed under power of sale in foreclosure of any security instrument recorded prior to January 1, 1986, providing for the issuance of more than one principal note or bond shall be presented for recording, it shall be accepted by the recorder of deeds for record upon the presentation to the recorder of the unpaid principal note or notes or bonds required by such security instrument to permit the trustee to sell the property under foreclosure sale. A foreclosure sale shall be deemed to have commenced within the meaning of this law upon the first publication of the notice of sale.