The bill proposes the addition of a new section, 442.383, to chapter 442 of the Revised Statutes of Missouri, which mandates that any instrument conveying real estate must disclose the sales price before it can be recorded by the county recorder of deeds. This requirement aims to enhance transparency in real estate transactions. Furthermore, the bill establishes a civil penalty for purchasers who fail to comply with this disclosure requirement, imposing a fine equal to five percent of the sales price for each violation. The enforcement of this provision can be initiated by the attorney general or the local prosecuting attorney. However, the bill specifies that these requirements do not apply to instruments that convey only mineral interests in real estate.

Statutes affected:
Introduced (4354H.01): 442.383