Missouri Senate

Perfected

Those seeking to preserve the right to assert a mechanic's lien against residential real property, shall record a notice of rights in the office of the recorder of deeds for the county in which the property is located. Those failing to record notice shall waive their right to assert a claim. A notice filed after the owner's conveyance of the property to a bona fide purchaser for value shall not preserve the filer's rights to assert a claim. The act contains the form of notice to be used.

The recorder of deeds shall record the notice in the land records whereby the owners shall be designated "grantors" and claimants shall be designated "grantees". The grantee's signature shall not be required for recording.

Owners shall provide claimants with the name of the current record property owner and the deed of the property, including the legal description of the property. Owners failing to provide the information shall be liable for the claimant's actual and legal costs to obtain a legal description of the property necessary for the claimant to record its notice of rights.

A renewal of notice of rights may be filed to preserve lien rights. It shall be titled as such but otherwise contain the sam information and be filed in the same manner as the original notice. Notices of rights and subsequent renewals shall expire 1 year after recording.

Currently, mechanic's lien claimants are required to file a just and true account of the demand due under section 429.080 when filing a lien. This act enumerates the items that shall be required to satisfy that requirement with respect to liens against residential real property.

Those wishing to have one's property released from a mechanic's lien may do so by depositing a sum, to act as substitute collateral for the lien, in an amount not less than 150% of the lien with the circuit clerk and record a certificate of deposit with the circuit clerk that includes a listing of the sum deposited, the name of the claimant; the number assigned to the lien; the amount being released; the legal description of the property; the name, address, and property interest of the person making the deposit; and a certification that the person has mailed a copy of the certificate of deposit to the claimant. Upon release of the property from the lien, by depositing the substitute collateral, the claimant's rights are transferred from the residential real property to the substitute collateral.

Requirements for valid, unconditional, final lien waivers for residential real property are enumerated and the form supplied. Such waivers are valid notwithstanding the claimant's failure to receive any promised payment or other consideration.

Claimants who have recorded a notice of rights and who have been paid in full for the work performed shall timely execute an unconditional, final mechanic's lien waiver.

This act is similar to SB 934 (2010), and SB 935 (2010).

CHRIS HOGERTY