Bulletin: MO2009003

Dear Associates:

Missouri House Bill 842 takes effect August 28, 2009. It enacts a new § 339.503 of the "Missouri Certified and Licensed Real Estate Appraisers Act" and includes the following definition:

(7) "Boat dock," a structure for loading and unloading boats and connecting real property to water, public or private. A boat dock is real property and has riparian rights, provided:

(a) The lender includes the boat dock as a fixture both in the lender's deed of trust and a uniform commercial code fixture filing under section 400.9-502, RSMo;

(b) The boat dock is attached to the real property by steel cable, bar, or chain that is permanently imbedded in concrete or rock, and otherwise securely attached to the dock; and

(c) The owner of the dock has riparian rights by means of real estate rights bordering the body of water, including such rights by license, grant, or other means allowing access to the body of water, which access may be seasonal because the water may be reduced for electric power production or flood control; (emphasis added)

Company Policy:

We cannot rely upon the referenced statute to insure "boat docks." In addition to standard riparian exceptions applicable to property abutting water, public or private, any commitment or policy (Owner's or Loan) issued for such property must include the following exception:

The Land shall not be deemed to include any boat dock.

If you have questions related to this bulletin, please contact your local underwriting personnel or Stewart Legal Services.

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