Bill > SB834

This bill establishes the "Missouri Residential Sale Leaseback Protection Act" to safeguard individuals selling their homes and then leasing them back, requiring buyers to provide a clear disclosure of the risks involved, including potential eviction and loss of ownership rights, and mandating a 30-day waiting period before closing and a 14-day notice period before signing the agreement, with penalties for violations. Additionally, the bill enacts the "Uniform Mortgage Modification Act," which clarifies how mortgage modifications, including changes to interest rates, maturity dates, and principal amounts, affect the original mortgage and its priority, and allows for electronic signatures on these modifications, with specific exceptions for certain types of changes like property releases or assignment of mortgages.