When an estate sells property, the court can allow the buyer to pay over time instead of all at once. The court decides how long the buyer has to pay, what interest rate applies, and what kind of security or other conditions are required. The court only approves these payment plans if it believes they are good for the estate.
473.473. Terms of sale. — In all sales of the court may authorize to be given by the or for the payment of such portion of the purchase price and for such periods of time, upon such rates of interest, with such , and upon such other conditions as the court finds to be in the interests of the .
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Source & history notes
(L. 1955 p. 385 § 173, A.L. 1957 p. 829)
Related Missouri laws
Heirs may give bond and prevent sale
RSMo 473.470
Executor or administrator not to purchase, exception
RSMo 473.477
Reservation of property under direction of will
RSMo 473.467
Validity of proceedings
RSMo 473.480
No known heirs, property to be sold
RSMo 473.463
Sales of perishable property
RSMo 473.483
Legal information, not legal advice. Always confirm with the official source at revisor.mo.gov.