Section 443.430

Title XXIX OWNERSHIP AND CONVEYANCE OF PROPERTY

Chapter 443

Effective - 02 Jan 1979, see footnote   

  443.430.  Motion for approval of bond for redemption — hearing — receiver — additional bond. — A motion or application for the approval shall be filed with the bond in the office of the clerk of the circuit court and at least one day's notice in writing thereof and of the time when the same will be filed and presented shall be given to the purchaser at such sale if he is a resident of the county and can be found therein, otherwise it shall be given to the trustee making the sale.  If court should not be in session when such bond and application are so filed the clerk may temporarily approve the same subject to future action of the court thereon but unless so temporarily approved or presented to the court for consideration within such twenty days the same shall be taken and deemed as finally rejected and disapproved.  The court may continue or adjourn the hearing or consideration of such bond when so within such twenty-day period temporarily approved by the clerk or presented to the court but the proceedings thereon shall be speedily and summarily acted upon and settled including the right or not of the obligor or obligors in the bond to give bond and to make such redemption.  The court at discretion may at such hearing or consideration of such bond or at any time during the redemption period of one year appoint a receiver to take charge and possession of and preserve the property so sold and to have the rents and profits thereof subject to the orders of the court, and the net result therefrom shall belong to the owner of the equity of redemption if redemption be made, otherwise to the purchaser at such sale.  And the court may require additional bond to be given as security at any time during such redemption period on application of the purchaser with at least five days' notice of such application to the principal on the original bond or his attorney, or agent, or representative.

­­--------

(RSMo 1939 § 3451, A.L. 1978 H.B. 1634)

Prior revisions: 1929 § 3064; 1919 § 2223

Effective 1-02-79

(1957) Notice requirement of this section is mandatory and ex parte approval of redemption bond by the court held erroneous and further proceedings in connection therewith would be prohibited. State ex rel. Hopkins v. Stemmons (A.), 302 S.W.2d 51.

(1957) Notice required by this section is mandatory and notification of trustee under § 443.110 did not relieve those seeking approval of bond of duty giving it. White v. Huffman (A.), 304 S.W.2d 909.