FIRST REGULAR SESSION
HOUSE BILL NO. 855
91ST GENERAL ASSEMBLY
INTRODUCED BY REPRESENTATIVES WILLOUGHBY, RIDGEWAY, PHILLIPS, REINHART,
HARDING AND KELLY (36) (Co-sponsors).
Read 1st time February 21, 2001, and 1000 copies ordered printed.
TED WEDEL, Chief Clerk
AN ACT
To repeal sections 140.340 and 140.405, RSMo 2000, relating to tax-delinquent property sales, and to enact in lieu thereof two new sections relating to the same subject.
Section A. Sections 140.340 and 140.405, RSMo 2000, are repealed and two new sections enacted in lieu thereof, to be known as sections 140.340 and 140.405, to read as follows:
140.340. 1. The owner or occupant of any land or lot sold for taxes, or any other persons having an interest therein, may redeem the same at any time during the two years next ensuing, in the following manner: By paying to the county collector, for the use of the purchaser, his heirs or assigns, the full sum of the purchase money named in his certificate of purchase and all the cost of the sale together with interest at the rate specified in such certificate, not to exceed ten percent annually, with all subsequent taxes which have been paid thereon by the purchaser, his heirs or assigns, with interest at the rate of eight percent per annum on such taxes subsequently paid, and in addition thereto the person redeeming any land shall pay [the costs incident to entry of recital of such redemption] other reasonable costs incident thereto which shall include the purchaser's reasonable cost of title search and the cost of notice by certified mail and any other costs as required by section 140.405.
2. Upon deposit with the county collector of the amount necessary to redeem as herein provided, it shall be the duty of the county collector to mail to the purchaser, his heirs or assigns, at the last post-office address if known, and if not known, then to the address of the purchaser as shown in the record of the certificate of purchase, notice of such deposit for redemption.
3. Such notice, given as herein provided, shall stop payment to the purchaser, his heirs or assigns, of any further interest or penalty.
4. In case the party purchasing said land, his heirs or assigns, fails to take a tax deed for the land so purchased within six months after the expiration of the two years next following the date of sale, no interest shall be charged or collected from the redemptioner after that time.
140.405. Any person purchasing property at a delinquent land tax auction shall not acquire the deed to the real estate, as
provided for in section 140.420, until the person meets with the following requirement or until such person makes affidavit
that a title search has revealed no publicly recorded deed of trust, mortgage, lease, lien or claim on the real estate. At least
ninety days prior to the date when a purchaser is authorized to acquire the deed, the purchaser shall notify any person who
holds a publicly recorded deed of trust, mortgage, lease, lien or claim upon that real estate of the latter person's right to
redeem such person's publicly recorded security or claim. Notice shall be sent by certified mail to any such person,
including one who was the publicly recorded owner of the property sold at the delinquent land tax auction previous to such
sale, at such person's last known available address. Failure of the purchaser to comply with this provision shall result in
such purchaser's loss of all interest in the real estate. If any real estate is purchased at a third-offering tax auction and has a
publicly recorded deed of trust, mortgage, lease, lien or claim upon the real estate, the purchaser of said property at a
third-offering tax auction shall notify anyone with a publicly recorded deed of trust, mortgage, lease, lien or claim upon the
real estate pursuant to this section. Once the purchaser has notified the county collector by affidavit that proper notice has
been given, anyone with a publicly recorded deed of trust, mortgage, lease, lien or claim upon the property shall have ninety
days to redeem said property or be forever barred from redeeming said property. In addition to all taxes and costs due to
the collector, anyone redeeming property shall repay the reasonable cost of title search and the cost of notice by
certified mail as itemized in the purchaser's affidavit.
Missouri House of Representatives