When someone dies while still paying off property they were buying, the court can decide to finish paying for it, give it up, or make a deal with the seller — whatever is best for the estate. If the person who died had an option to buy property, the court can let the person running the estate go ahead and buy it, as long as it helps the estate and does not hurt anyone who is owed money or set to receive that property.
473.317. Completion of contracts to purchase property — exercise of s. — 1. If any person dies having purchased , and has not completed the payment therefor, nor provided for its payment by , the court may the completion of payment upon the same findings and conditions as are required by section 473.287 for the of for the 's debt. The court may, after notice to , order , or of all such rights, , and interest of the decedent in the property on such terms as the court finds to be for the of the . This section shall not be to restrict any rights of the of the property.
2. If any person dies owning an real or personal property, and it is to the advantage of the estate and will not be prejudicial to or to specific that such option be exercised, the court may by order authorize the exercise of the option by the or and the payment by the executor or administrator of the purchase price.
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Source & history notes
(L. 1955 p. 385 § 121)
Related Missouri laws
Interest may be sold, when
RSMo 473.320
Action for specific performance
RSMo 473.313
Interest relinquished to vendor, when
RSMo 473.323
Specific execution of contract of decedent, court order
RSMo 473.310
Notice
RSMo 473.307
Procedure in case of sale of school lands
RSMo 473.327
Legal information, not legal advice. Always confirm with the official source at revisor.mo.gov.