Standard Requirements in Missouri

Parties

General

• Names of Purchaser to be furnished and searched, and any additional objections by reason thereof to be certified prior to settlement.
• Estates or interests by which grantees are to hold title to be set forth in deed to insured.

Individuals

• Proof that [Grantees], grantees in [Deed of Record] are the same persons as the proposed mortgagors herein, and that they have never been divorced.
• Record title appears in the name of [Record Owner] individually; proof that divorce proceedings have not been filed, and no resulting award has been made of the subject premises.
• Property settlement agreement (if any) and any amendments thereto between ____________ and __________________ to be produced and examined prior to settlement.
• Proof that no award has been made of subject premises under divorce proceedings #[ ].

Church

• Articles of Incorporation of [Church] as required by the [LAW] to be produced and filed with the Company.
• Copy of By-Laws and any amendments thereto of [Church] to be produced and filed with the Company.
• Proof that the present Deed is being made by [Church] in accordance with the rules and regulations of any governing body, if any; consent of such body to be filed with the Company.
• Certified copy of Resolution of [Church] authorizing the execution and delivery of the present deed in accordance with its Articles and By-Laws of Section XXX of the [LAW] to be produced and filed with the Company.

Corporations

• Certificate of Incorporation of Grantor Corporation.
• Certified copy of resolution of Board of Directors of Grantor Corporation authorizing execution and delivery of Deed, and approval of shareholders if same is not in regular course of business.
• Taxes settled by the State of Missouri against Grantor Corporation. (search ordered)
• Unsettled taxes and other charges due the State of Missouri by Grantor Corporation.

LLC

• Certificate of Organization of [Name of LLC], LLC, and all amendments thereto to be produced and copy filed with Company and proof that same has been filed with the Commonwealth of Pennsylvania.
• Operating Agreement of [Name of LLC], LLC to be produced and copy filed with Company.
• Proof that all the consents and requirements of Operating Agreement have been met with respect to the authority of members or managers to execute Mortgage and accept delivery of Deed.
• Proof that [Name of LLC], LLC has not been dissolved.

LP

• Limited Partnership Grantor ([Name of L.P.])
• List of general and limited partners to be provided of [Name of L.P.]; possible additional objections and exceptions thereto.

GP

Maybe?

• Proof that John F. Bare and Lane E. Jackson are all the members of co-partnership.
• If less than all to be signatories, Partnership Agreement to be produced.
• No alteration in name or character, regarding John F. Bare and Lane E. Jackson, co-partners.
• Electing Partnership, regarding John F. Bare and Lane E. Jackson, co-partners.

Estates

• Possible Estate Tax due the United States of America by the Estate of [Name of Decedent], deceased.
• Estate Tax due the State of Missouri by the Estate of [Name of Decedent], deceased.
• AND the said [Name of Decedent] died on [date of death], leaving a Will dated [date of Will] for probate in _________ County in Estate File #[estate file number] in which he appointed [Name of Executor] as Executor, to whom letters testamentary were granted on [date of grant of letters].
  • NOTE: Remember to modify under different circumstances.
  • AND the said Bernice Johnson died on May 2, 2005, intestate, with an estate filed in the _________ County Register of Wills as Estate File #1505-0859 in which Carol Johnson was named as Administrator, to whom letters of Administration were granted on June 9, 2005.
  • AND the said Dominic J. Mattia died on October 23, 2003, intestate.
  • AND Letter of Administration for the Estate of Dominic J. Mattia, deceased, were granted Donald N. Mattia on November 6, 2003 by the ____________ County of Register of Wills in Estate File #1503-1559.

Trusts

• Trust Agreement and any amendments thereto to be produced and examined; any additional objections and/or exceptions may be added.
• Proof that the Trusts created are still subsisting and the constituents thereto are still alive and competent before the law.

Properties

Community Associations

Condominiums

• Recordable statement from the Unit Owners Association of [ ] Condominium to be produced, setting forth the amount of unpaid assessment currently levied against this unit in accordance with the provisions of Section XXX of the Uniform Condominium Act.

PUDs

• Proof that all unpaid assessments due the Homeowners’ Association are paid to date of settlement.

Survey

• Survey to be produced and recorded; possible additional exceptions and objections to be added upon examination of the same.

Encumbrances

• NOTE: There are several civil suits and judgments against similarly named individuals, but none appear to be against the record owner(s) above; same to be provided upon request.

Construction Liens

If there has been construction, improvements or repairs to or on the property in the past 12 months, or a portion or all of the loan proceeds will be used for such, then unrecorded mechanics lien coverage will not be furnished unless arrangements are made prior to closing.

If the property is 1-4 family residential and we are being asked to extend mechanic's lien coverage (through date downs or otherwise) on a construction loan, a Mechanic's Lien Indemnity Agreement secured by a satisfactory Letter of Credit will need to be furnished to the company. If the transaction is not a residential construction loan or a sale of "residential real property" (as defined by Section 429.016 RSMO) to a bona fide purchaser which would entitle the owner to utilize Section 429.016.1 to 429.016.31 RSMO, either the aforesaid secured indemnity or satisfactory financial statements, indemnities, affidavits and possibly lien waivers, will need to be furnished to the company. Failure to notify the company in writing before closing will invalidate any mechanic's lien coverage given in the policy.

If the transaction is a sale covered by Section 429.016.1 to 429.016.31, that is, (1) the Land is not-owner occupied - unless it is residential real property of five or more units; and (2) the Land is considered "residential real property" as defined in the statute; and (3) the purchaser is a bona fide purchaser for value, then the following requirements must be met for mechanic's lien coverage:

1. The owner must record a Notice of Intended Sale satisfactory to the Company in all counties which the Land is located not less than 45 days prior to the intended closing date;
2. The actual closing date cannot be earlier than the date set forth in the above Notice;
3. If the date set forth in the above Notice is more than 90 days after the date of the recording of the Notice, proof satisfactory to the Company that the owner had a contract with a subcontractor or supplier as of the date must be furnished;
4. If the Land is 1-4 family, proof satisfactory to the Company that the Land is not owner occupied;
5. Recorded Notices of Rights, if any, are addressed to the satisfaction of the Company;
6. The owner (and spouse, if any) executes the Company's Construction Lien Indemnity Agreement