Legal Articles

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…

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…

Statutory & Equitable Redemption for Deeds of Trust, Foreclosures

Redemption refers to the ability of a mortgagor to stop a foreclosure after a default. Missouri almost uniformly uses a deed of trust arrangement to handle real estate financing. Under this arrangement, a trustee holds legal title title to the property while equitable title remains with the borrower/mortgagor — i.e., the person(s) generally living on…

Deeds of Trust

There are three basic documents in a sale of land: the contract for sale, the deed, and (if needed) a mortgage. A mortgage is a debt instrument which “secures” a debt; in Missouri, the mortgage is almost always in the from of a deed of trust. Essentially, the deed of trust is a type of…

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