Senator Bob Onder Proposes Online Options for Notice of Sale
JEFFERSON CITY – Senator Bob Onder, R-Lake St. Louis, presented legislation to the Missouri Senate’s Judiciary and Civil and Criminal Jurisprudence Committee that would provide more options for notices of sale.
Current law mandates that a notice of sale of real estate held by a mortgage or deed of trust be published in a newspaper for 20 consecutive days. Senate Bill 877 gives trustees the option to post these notices of sale through an online publication.
“This legislation simply gives trustees another option of where to place the notice of sale and potentially reach more people for less money,” said Sen. Onder. “It’s no secret that we are living in a digital age. A lot of people get their information exclusively from online sources, whether it be from a computer, a smartphone or a tablet. This bill provides another option for trustees to use if they want to reach a broader audience through the use of online publication.”
The proposal also requires the website hosting the notices of sale to make the information free and open to the public, without the need for a subscription or account, and the website cannot charge the trustee more than the advertised rate for hosting. The bill also stipulates that notices must be online for 21 consecutive days.
###