Missouri Laws 381.019 – Required disclosures
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1. A title insurer, title agency or title agent participating in a settlement or closing of a residential real estate transaction shall provide clear, conspicuous, and distinct disclosure of premiums and charges. The director shall adopt rules not in conflict with provisions of the federal Real Estate Settlement Procedures Act, as amended, under section 381.042 to implement disclosure of the following:
(1) Premium;
Terms Used In Missouri Laws 381.019
- Escrow: Money given to a third party to be held for payment until certain conditions are met.
- following: when used by way of reference to any section of the statutes, mean the section next preceding or next following that in which the reference is made, unless some other section is expressly designated in the reference. See Missouri Laws 1.020
- Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
(2) Abstract or title search and examination fee and any other associated charges or fees; and
(3) Settlement, escrow, or closing fees.
2. A violation of any provision under this section is a level two violation under section 374.049.