HB 309 -- Title Insurance

Sponsor:  Johnson (47)

This bill establishes a process by which a title insurer may file
a certificate of release of a mortgage or deed of trust, if the
title insurer receives no written objection from the lender.  The
title insurer must send a notice of intention to file a
certificate of release to the lender by certified mail.  The
lender will then have 90 days to file a written objection.  The
bill sets forth the form of the release, as well as what
information must be included.  A release that is complete and
executed properly will be prima facie evidence of the facts which
it contains.  The bill applies to security instruments that are
satisfied before the effective date of the bill, as long as the
title insurer complies with the requirements of the bill.

Missouri House of Representatives
Last Updated July 25, 2003 at 10:11 am