Missouri Laws 443.010 – Mortgage, assumption of upon purchase not construed to extend mortgage to ..
Terms Used In Missouri Laws 443.010
- Deed: The legal instrument used to transfer title in real property from one person to another.
- hereafter: means the time after the statute containing it takes effect. See Missouri Laws 1.020
- Lien: A claim against real or personal property in satisfaction of a debt.
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- Property: includes real and personal property. See Missouri Laws 1.020
Where, by any deed which shall be hereafter executed, two or more lots or tracts of land or interests in such shall be conveyed, and upon one or more of such tracts or lots there shall be any mortgage or deed of trust, or lien or encumbrance not covering the other or others of such tracts, the payment of which shall be assumed in said deed, or where such mortgage or deed of trust or encumbrance shall be so recited in said deed that the payment of it might be claimed to constitute a part of the consideration of such deed, such mortgage or deed of trust or other encumbrance shall not be held by reason of such assumption or recital to constitute a vendor’s lien upon, or to affect in any way, any property other than that specifically covered by such mortgage or deed of trust or other encumbrance unless it be clearly and in express words provided and set forth in said deed that it is intended by such assumption or recital to fasten such mortgage or deed of trust or other encumbrance as a vendor’s lien upon any of the property conveyed, other than that specifically and prior thereto covered by it.