SS/HB 2636 - This act creates new provisions relating to transactions involving real estate. INSURER'S LEGAL TITLE TO CLAIM PAID (Section 379.135) Upon payment by an insurer of all or any part of a claimant's property damage claim, legal title to the portion of the claim paid shall vest in the insurer to the extent of such payment. No assignment or other action by the claimant shall be required for the insurer to enforce its legal title. The claimant shall retain legal title only to that portion of the property damage claim not paid by the insurer. An insured under a policy of insurance shall not, before or after a claimed or covered loss, assign or otherwise transfer, in whole or in part, the insured's duties under the policy or any rights or benefits arising from the policy or any duties owed by the insurer under the policy. Any contract entered into in violation of this act shall be void and unenforceable. This act does not prohibit an insured from authorizing direct payment to, or to pay, a person for services, materials, or any other thing that may be, or is, covered under the policy. This provision is identical to a provision in SCS/SB 1543 (2026) and similar to a provision in HCS/HB 3328 (2026) and a provision in the truly agreed to and finally passed CCS/HCS/SS/SCS/SBs 835 & 1111 (2026). DISCLOSURES BY REAL ESTATE WHOLESALERS (Section 407.3600) Under the act, not less than fourteen calendar days before entering into a contract that transfers an interest in residential real property, a wholesaler, as defined in the act, acting as a grantee or a wholesaler's representative, shall provide to the property owner a written disclosure. Requirements for the disclosure are described in the act. A wholesaler acting as a grantee shall not enter into a contract that transfers an interest in residential real property until both the wholesaler and the property owner sign and date the disclosure. If the wholesaler acting as the grantee fails to make the disclosure before entering into the contract that transfers interest in the property, the owner of the property may cancel the contract at any time before the close of the escrow without penalty and the escrow agent shall disburse any earnest money paid by the wholesaler to the owner within 30 days after the cancellation. Provisions of the act shall not be modified or waived by any agreement. Any portion of an agreement executed, modified, or extended after the effective date of the act that modifies or waives provisions of the act shall be null and void. Any violation of the act shall be considered an unlawful practice under the Missouri Merchandising Practices Act. A party that enters into an agreement without receiving the disclosure under the act may bring a private action against a wholesaler. The Attorney General shall have the authority to enforce the provisions of the act. For any violations, the Attorney General may commence a civil action. If the court finds that a violation occurred, the court may grant relief as described in the act. These provisions are identical to provisions in the truly agreed to CCS/HCS/SS/SCS/SB 973 (2026), the perfected SS/SCS/SB 1001 (2026) and substantially similar to provisions in the perfected HCS/HB 2517 (2026). MISSOURI RESIDENTIAL SALE LEASEBACK PROTECTION ACT (Section 442.920) The act creates the "Missouri Residential Sale Leaseback Protection" act, which regulates sale leasebacks. A sale leaseback is defined as a transaction or series of transactions in which a seller sells residential real estate that is or was the seller's residence to another party and, as a condition of the sale, or as part of the same or a related transaction, enters into a lease or rental agreement to remain in or re-occupy the property. In any sale leaseback transaction, a buyer is required to provide the seller with certain disclosures, described in detail in the act, alerting the seller of the nature of the transaction and advising them of certain actions they may wish to take. The disclosure must be provided to the seller not more than 10 days and not less than 3 business days before the execution of any sale leaseback agreement, and the disclosure shall be signed by both the seller and the buyer concurrently with the execution of the sale leaseback agreement. Violation of this act is subject to a fine of up to $10,000 per violation. The Attorney General is permitted to enforce this act by bringing a cause of action seeking injunctive relief, civil penalties, and restitution. A seller is also permitted to bring a civil action if harmed by a violation of this act. A seller may recover actual damages, statutory damages up to $10,000, attorneys' fees and costs, and any equitable or injunctive relief. This act may not be waived or modified by agreement of any party. These provisions are identical to provisions in the truly agreed to SS/SB 834 (2026), the truly agreed to CCS/HCS/SS/SCS/SB 973 (2026), and the perfected SS/SCS/SB 1001 (2026), and substantially similar to SB 1684 (2026). UNIFORM MORTGAGE MODIFICATION ACT (Sections 443.920 to 443.925) The act creates the Uniform Mortgage Modification Act, establishing new procedures with respect to modifications of mortgages. The act provides that, for any mortgage modification, as that term is defined in the act, all of the following apply: • The mortgage continues to secure the obligation as modified; • The priority of the mortgage is not affected by the modification; • The mortgage retains its priority regardless of whether a record of the mortgage modification is recorded in the public land records; and • The modification is not considered a novation. This act supercedes the federal Electronic Signatures in Global and National Commerce Act, as permitted by that Act, except as otherwise provided in this act. This provision contains various exceptions. This provision is identical a provision in the truly agreed to SS/SB 834 (2026). This act contains a severability clause. SCOTT SVAGERA