Purchase Money Security Instruments in Missouri
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(Redirected from Purchase Money Deeds of Trust in Missouri)
Purchase Money Security Instruments have been recognized in Missouri as having priority over all other liens for over the last 100 years. Language in a recent case, however, could suggest that the courts will not allow a PMSI to take priority over "statutory liens" such as Mechanic's Liens. To date, only Mechanic's liens have been recognized as an exception to the traditional rule.
- Demeter v. Wilcox, 22 S.W. 613 (Mo. 1893)
- A PMM will take priority of previously recorded judgments. Sutton Funding, LLC v. Mueller, 278 S.W.3d 702, 704 (Mo. Ct. App. 2009)
- A PMM will not, however, take priority over a statutory lien like a Mechanic's Lien. Bob DeGeorge Assocs., Inc. v. Hawthorn Bank, 377 S.W.3d 592, 596 (Mo. 2012)
