When someone dies and their estate is owed money that is backed by property as collateral, the person in charge of the estate (the executor or administrator) can buy that property at a foreclosure sale. A court has to approve it first. The most the estate can pay is the amount of money it is owed.
473.280. Purchase at of held by . — Whenever any note, , account, or other belonging to the estate of any is secured by mortgage, , or other on any property, and the same is due and unpaid, the or of the estate, under the of the court, may purchase the property at the sale made under the mortgage, deed of trust or other lien, at a price not exceeding the amount due the estate on the note, bond, account or other indebtedness.
(RSMo 1939 § 95, A.L. 1955 p. 385 § 111)
Prior revisions: 1929 § 95; 1919 § 94; 1909 § 102
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Related Missouri laws
Compromise of debts due estate
RSMo 473.277
Title to real estate, how taken on such purchase
RSMo 473.283
Actions instituted by or against decedent, duties
RSMo 473.273
Encumbered property to be redeemed, when
RSMo 473.287
Collection of debts, prosecution and defense of suits
RSMo 473.270
Payment of debt of decedent secured by property of another
RSMo 473.290
Legal information, not legal advice. Always confirm with the official source at revisor.mo.gov.