MO Underwriting Summary

Search/Exam

• Minimum Search Requirements -- 27 years. V.A.M.S. 381.071 Search must be made at a Registered Title Plant (a set of geographically indexed records registered with the DIFP) unless a search from the plant cannot be obtained at a reasonable cost in a reasonable time.
• no marketable record title act; marketable title determined by case law and Title Standard;
• 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
• An attorney is not required. A Licensed Missouri Producer must search, examine, close, record or handle any other aspects of closing and commitment and policy issuance. (License issued by the Missouri Dept. of Insurance, Financial Institutions and Professional Licensing: MO DIFP) RSMo 381.031.19

Vesting

Recognizes

• Tenants in Common -- which is presumed whenever two or more parties take title and no contrary intent is expressed -- except for trustees, P.R. and H&W V.A.M.S. 442.450
• Joint Tenants
• Tenancy by Entireties -- Automatic if H&W and no contrary intent in conveyance. Woodworth v. Mauk, 614 S.W.2d 308 (Mo App. W.D. 1981)

• Community Property -- No
• Homestead -- Yes
• Joinder of Non-titled Spouse -- Yes

Witness Requirements

No Witness Required

Mortgage/Transfer Tax

No Mortgage Tax.

Spousal Joinder Requirements/Homestead

A Non-Title Holding Spouse must execute any deed of conveyance or deed of trust. There is no civil union in Missouri.

Non-Title holding spouse may waive spousal rights and thereafter not sign deed, mortgage or deed of trust.

474.150. 1. Any gift made by a person, whether dying testate or intestate, in fraud of the marital rights of his surviving spouse
to share in his estate, shall, at the election of the surviving spouse, be treated as a testamentary disposition and may be recovered 
from the donee and persons taking from him without adequate consideration and applied to the payment of the spouse's share, 
as in case of his election to take against the will.

2. Any conveyance of real estate made by a married person at any time without the joinder or other written express assent of his 
spouse, made at any time, duly acknowledged, is deemed to be in fraud of the marital rights of his spouse, if the spouse becomes 
a surviving spouse, unless the contrary is shown.

3. Any conveyance of the property of the spouse of a disabled person is deemed not to be in fraud of the marital rights of the 
disabled person if the probate division of the circuit court authorizes the conservator of the disabled person to join in or assent 
to the conveyance after finding that it is not made in fraud of the marital rights. Any conveyance of the property of a minor or 
disabled person made by a conservator pursuant to an order of court is deemed not to be in fraud of the marital rights of 
the spouse of the protectee.

Who May Serve As Trustee On Deed Of Trust

Deed of Trust only. The trustee must be a MO resident individual over the age of 18 or a MO corporation. If a non-resident individual or foreign corporation is named as trustee, a MO resident individual or MO corporation must be added as co-trustee.

An underwriter or a title agent could qualify as a trustee if it is a MO corporation. By custom, an attorney who is a resident of Missouri is usually named trustee. The lender/beneficiary selects the trustee.

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. Applies to after acquired property. V.A.M.S. 511.360
• Federal Tax Liens -- 10 years, 30 days (See 26 USCA 6323(g))
• State Tax Liens -- 10 years, subject to 10 year renewal
  • Interest rate on delinquent State taxes
• Estate Tax Lien -- Yes, against beneficiaries; 10 years if judgment obtained
• State Inheritance Tax Liens -- No
• Child Support Liens -- 3 years unless refiled. Judgment for periodic payments is not a lien. s. 454.515
• 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 --

Odd Stuff

• Mandatory arbitration is prohibited in Missouri. The filed Arbitration Endorsement should be included with each policy.
• Filed Rates & Forms. http://sos.mo.gov/adrules/csr/current/20csr/20c500-7.pdf