Section 473.317

Title XXXI TRUSTS AND ESTATES OF DECEDENTS AND PERSONS UNDER DISABILITY

Chapter 473

Effective - 28 Aug 1955   

  473.317.  Completion of contracts to purchase property — exercise of options. — 1.  If any person dies having purchased real or personal property, and has not completed the payment therefor, nor provided for its payment by will, the court may order the completion of payment upon the same findings and conditions as are required by section 473.287 for the redemption of security for the decedent's debt.  The court may, after notice to interested parties, order relinquishment, compromise or transfer of all such rights, title, and interest of the decedent in the property on such terms as the court finds to be for the benefit of the estate.  This section shall not be construed to restrict any rights of the seller of the property.

  2.  If any person dies owning an option to purchase real or personal property, and it is to the advantage of the estate and will not be prejudicial to creditors or to specific devisees that such option be exercised, the court may by order authorize the exercise of the option by the executor or administrator and the payment by the executor or administrator of the purchase price.

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(L. 1955 p. 385 § 121)