Missouri HB2496: Requires disclosure of sales prices in real estate sales

What the bill says

To amend chapter 442, RSMo, by adding thereto one new section relating to sales price disclosure in real estate sales, with penalty provisions. Section A. Chapter 442, RSMo, is amended by adding thereto one new section, to be known as section 442.383, to read as follows: 442.383. 1. A person shall not file for record or have recorded in the office of the county recorder of deeds an instrument conveying any real estate under a contract for sale unless the instrument discloses the sales price of the real estate. 2. The purchaser of any real estate for which an instrument is recorded in violation.

From the introduced text:

To amend chapter 442, RSMo, by adding thereto one new section relating to sales price disclosure in real estate sales, with penalty provisions. Section A. Chapter 442, RSMo, is amended by adding thereto one new section, to be known as section 442.383, to read as follows: 442.383. 1. A person shall not file for record or have recorded in the office of the county recorder of deeds an instrument conveying any real estate under a contract for sale unless the instrument discloses the sales price of the real estate. 2. The purchaser of any real estate for which an instrument is recorded in violation of subsection 1 of this section is liable to the state for a civil penalty for each violation in an amount equal to five percent of the sales price of the real estate. 3. The attorney general or the prosecuting attorney of the county in which the real estate is located may bring suit to recover a penalty under this section. 4. The provisions of this section shall not apply to an instrument conveying only a mineral interest in real estate. ✔ EXPLANATION -- Matter enclosed in bold-faced brackets [thus] in the above bill is not enacted and is intended to be omitted from the law. Matter in bold-face type in the above bill is proposed …

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Sponsors

• Weber, Emily (D, 024) · primary sponsor