Section 473.643

Title XXXI TRUSTS AND ESTATES OF DECEDENTS AND PERSONS UNDER DISABILITY

Chapter 473

Effective - 28 Aug 1983   

  473.643.  Property sold to effect partition, when. — 1.  If personal property cannot be divided in kind with advantage to the distributees, and it is not to their advantage that the same be sold by the personal representative, then, upon the application of a majority of those entitled to distribution, the court may order the same to be delivered to such person as they designate, in which selection minors shall act by their conservator, who shall proceed to collect, by suit or otherwise, all notes, accounts and choses in action so received in the name of the distributees, and dispose of all property so coming into his possession or under his control to their best interest, collecting the proceeds thereof, and distribute all moneys realized to the parties entitled thereto.

  2.  Such person, in the discretion of the court, may be required to give bond to the state of Missouri, with good securities, in such sum as the court may deem proper, for the faithful discharge of his duty, and for payment of parties entitled thereto of all moneys collected.

  3.  The party may be discharged from the trust upon his application, or upon the application of a majority of the heirs, when it appears to the court that it is not for the best interest of distributees that the trust be continued.

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(RSMo 1939 § 240, A.L. 1955 p. 385 § 225, A.L. 1978 H.B. 1634, A.L. 1983 S.B. 44 & 45)

Prior revisions: 1929 § 241; 1919 § 240; 1909 § 249