MO Underwriting Summary
From WFG Wiki
Contents
- 1 Search/Exam
- 2 UPL
- 3 Vesting
- 4 Witness Requirements
- 5 Property Tax
- 6 Mortgage/Transfer Tax
- 7 Spousal Joinder Requirements/Homestead
- 8 Power Of Attorney
- 9 Construction Liens
- 10 Foreclosure Review
- 11 Instrument Requirements
- 12 Who May Serve As Trustee On Deed Of Trust
- 13 Time Limitations
- 14 Odd Stuff
Search/Exam
- Minimum Search Requirements -- 45 years for Owners Policy
- Plant or other search restrictions -- Plants required unless written evidence that plant provider cannot meet reasonable turn times
- Additional Requirements for REO Searches -- No
- Foreclosure Checklist -- N/A
- Special Searches Required (Code, HOA, Utilities)? -- St. Louis taxes/special benefit districts
- Survey Requirements -- No
UPL
- UPL Hot Button Issues -- Don’t charge a doc prep fee
Vesting
Witness Requirements
Property Tax
Mortgage/Transfer Tax
Spousal Joinder Requirements/Homestead
Power Of Attorney
Construction Liens
Foreclosure Review
Instrument Requirements
Who May Serve As Trustee On Deed Of Trust
Time Limitations
- US Judgment Liens -- 20 years, renewable for 20 years
- State Court Judgment Liens -- 10 years, subject to renewal for an unlimited number of 3 year periods
- Federal Tax Liens -- 10 years, 30 days (See 26 USCA 6323(g))
- State Tax Liens -- 10 years, subject to 10 year renewal
- Estate Tax Lien -- Yes, against beneficiaries; 10 years if judgment obtained
- State Inheritance Tax Liens -- No
- Mechanics Liens -- 6 months
- Financing Statements -- 5 years (manufactured housing 30 years); can be renewed for successive terms
- Mortgages -- 20 years
- HOA Liens --
- Condominium assessments -- 3 years
- Child Support Liens --
