Legal Question in Real Estate Law in Missouri
We refinanced part of our property several years ago and apparently that was when the legal description on the deed of trust was written incorrectly. That bank then sold the loan to the current leinholder who just copied the legal description as it was (also incorrect). We tried to do a streamline refinance within the last year and we were told that they could not proceed until WE had the problem fixed. Long story short we dropped the refinance and never got around to doing anything about correcting the deed of trust. Now we are considering trying to refinance again because the rates are so good but don't want to get the process started before we take care of changing the legal description if that is what we should do? But we are not sure how to proceed or who is best to take care of the problem
2 Answers from Attorneys
You need to contact the title company that closed the loan and prepared the deed of trust with the incorrect legal description. Generally the error can be corrected with a simple filing of a corrected Deed of Trust and/or Corrected Deed. Good luck.
I would contact the title company and ask them to correct the error, since they are responsible for promulgating an accurate title. If they refuse, I would file a quiet title action and/or a petition for declaratory judgment, where I would ask the court to order the title be corrected. Feel free to email me if you want to discuss this further.
Sean Santoro/Licensed in KS and MO/ [email protected]
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