443.035. Recording of instrument required--failure to record, effect on persons subsequently obtaining interest or lien. - Missouri Statutes

Recording of instrument required--failure to record, effect onpersons subsequently obtaining interest or lien.

443.035. 1. Security instruments may be assigned byinstrument in writing, acknowledged by the assignor in the mannerprovided for the acknowledgment of other instruments affectingthe title to real property, and may be recorded in the office ofthe recorder of deeds in the county or counties in which thesecurity instrument being assigned was recorded.

2. Any person who acquires an interest in or a lien uponreal property for value and without notice of an unrecordedassignment of a security instrument recorded on or after January1, 1986, and who has relied upon a release of such securityinstrument executed by the party last shown of record to be theowner thereof, shall acquire the interest in or lien upon suchreal property free from the lien of the security instrument tothe same extent as if the release upon which reliance was placedhad been executed by the lawful holder of the debt or otherobligation secured by such security instrument.

3. No recorder of deeds in this state shall accept forrecord any security instrument of assignment thereof in which themortgagee, cestui que trust or assignee is named as bearer or theactual identity of the mortgagee, cestui que trust or assignee isotherwise not ascertainable from the face of the securityinstrument or assignment. All security instruments andassignments thereof presented for record shall contain themailing address of the mortgagee, cestui que trust or assigneeexcept, that the omission thereof shall not affect the validityof any security instrument or assignment, or the constructivenotice imparted by the record thereof.

(L. 1985 H.B. 210, A.L. 1993 H.B. 105 & 480)