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Monthly Archives: May 2013

Deed Reformation, Mutual Mistake: Real Estate

To reform a deed means to correct an error. This is separate from filing a correction deed in that it is a formal request to a court for equitable relief.  Although a reformation can be granted in a variety of circumstances, the most common is when there is a mutual mistake (one that is common […]

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Holder in Due Course: Promissory Note Enforcement

Debt instruments are frequently bought and sold. If A borrow money from B and signs a promissory note promising B to pay the money back in the future, it is not uncommon for B to sell his/her rights under the promissory note (usually to make a quick profit). In many cases, a litany of transfers […]

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Contracts for Deed: Missouri Real Estate Conveyances, Seller Financing

The conventional way real estate financing occurs is when the purchaser applies for a mortgage with a bank/financial institution. The bank/financial institution approves the transaction and wires the money to the title company, who in turn tenders the money to the seller. The purchaser will then execute a promissory note promising to pay back the […]

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Quitclaim, General Warranty Deeds

A deed is the document used to convey an interest in real estate. Generally, a deed takes effect and is effective to transfer title of property at the time of its delivery from grantor (i.e., seller) to grantee (i.e., buyer), not at the time of its execution or recordation. Delivery gives the deed force and effect and signifies that […]

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Necessary Parties in Quiet Title, Property Title Defect Suits

The right to quiet title in Missouri is statutory. Specifically, Section 527.150 allows any person claiming any “title, estate or interest in real property” to initiate a suit in the local county courthouse to have the Court determine all rights, claims, interest, liens and demands relating to the property. Because title defects can arise in a given […]

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Expungement of First Time Alcohol-Related Driving Offense (DWI/DUI)

Although Missouri is unfavorable with respect to expungements (i.e., clearing a criminal record), Section 577.054 does provide reprieve for first time alcohol-related driving offenses in narrow circumstances. The requirements are as follows: (1) The conviction/guilty plea has to be over ten (10) years old; (2) The conviction/guilty plea has to be for a misdemeanor or […]

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Assumption of Risk & Consent Affirmative Defenses

Assumption of risk is an affirmative defense which states that someone cannot be held liable when the injured party expressly entered into a situation knowing there was a possibility of harm. As an example, playing football is a physical game. When you step on to the field, you’re assuming the risks (and possibly consenting, too) of […]

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Wrongful Foreclosure, Deed Set Aside: Real Estate

Missouri foreclosures typically occur outside of Court because property is conveyed through a deed of trust, rather than a mortgage. Although “mortgage” and “deed of trust” are often used interchangeably, there is a distinction. Specifically, under a deed of trust, a trustee holds legal title to the property while the borrowers hold equitable title to […]

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