Real Estate Laws in Missouri.

The trustee may foreclose by advertising the sale for 21 consecutive days in a newspaper and conducting a sale at the county courthouse. Fast process compared to judicial foreclosure.

No general post-sale statutory redemption. If the lender purchases at the trustee's sale, the borrower may redeem within 1 year by posting bond within 10 days of the sale. Tax sales have separate redemption under Chapter 140.

Sellers of residential property must make a written disclosure of known material defects. Missouri does not have a comprehensive statutory disclosure form but commission rules and industry practice require extensive disclosures.

Contractors, subcontractors, and suppliers may file liens against improved real property. Filing deadline: 6 months from date of last furnishing. Residential projects have specific notice requirements.

Missouri is a race-notice state: a subsequent bona fide purchaser for value without notice who records first prevails over an earlier unrecorded conveyance.

Real property assessed at 19% of market value for residential, 12% for agricultural, 32% for commercial. Re-assessment every 2 years in odd-numbered years. Senior citizen circuit breaker available.