Difference between revisions of "Security Instruments in Missouri"
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* Expire after 20 years from date of maturity [need to verify] | * Expire after 20 years from date of maturity [need to verify] | ||
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| + | 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. | ||
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| + | 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. | ||
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| + | No Mortgage Tax. | ||
Revision as of 19:35, 2 August 2018
- Expire after 20 years from date of maturity [need to verify]
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.
No Mortgage Tax.
