Mortgages last maturing obligation is due, how determined
This law explains how to figure out when the clock starts ticking on a mortgage or deed of trust if the due date is not clearly written on the document. For most mortgages recorded after January 1, 1979, the 20-year period starts from the date written on the document, or the date it was officially signed, or the date it was recorded — whichever can be found first. For certain special loans that allow future borrowing against property, recorded after September 1, 1992, the 20-year period starts 20 years after the document's written date, signed date, or recorded date.
516.155. Mortgages last maturing is due, how determined — on begins to , when. — 1. Except as provided in 2 of this section, whenever under the of section 516.150 "the date at which the last maturing obligation secured by the sought to be is due on the face of such instrument" cannot be determined from the face of such instrument, the twenty-year period referred to in section 516.150 shall begin to run on the recited date of of such instrument, or if there is no recited date, the date of of such instrument, or if there is neither a recited date of execution nor a date of acknowledgment, the date of of such instrument, or if there is none of the above, the original date of the secured obligation, except that the provisions of this subsection shall apply only to deeds of and mortgages after January 1, 1979.
2. In the case of a security instrument described in section 443.055, the twenty-year period referred to in section 516.150 shall begin to run on the twentieth anniversary of the recited date of execution of such security instrument, or if there is no recited date, the date of acknowledgment of such security instrument, or if there is neither a recited date of execution nor a date of acknowledgment, the date of recording of such instrument, except that the provisions of this subsection shall apply only to such security instruments recorded after September 1, 1992.
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Source & history notes
(L. 1978 S.B. 665, A.L. 1992 S.B. 688)
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No action to foreclose mortgage after note barred
RSMo 516.150
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Legal information, not legal advice. Always confirm with the official source at revisor.mo.gov.