When someone dies and their personal property (like belongings or money owed to them) can't easily be split up between the people who should get it, a court can put one person in charge of handling it. That person collects what's owed, sells things if needed, and hands out the money to everyone who is supposed to get a share. The court can make that person put up a bond (a kind of financial promise) to make sure they do the job right. That person can be removed from the job if most of the heirs or the person themselves ask the court, and the court agrees it's best to end it.
473.643. Property sold to effect , when. — 1. If cannot be divided with advantage to the , and it is not to their advantage that the same be sold by the , then, upon the of a of those entitled to , the court may the same to be delivered to such person as they , in which selection minors shall act by their , who shall proceed to collect, by suit or otherwise, all notes, accounts and so received in the name of the distributees, and dispose of all property so coming into his or under his control to their best interest, collecting the thereof, and all moneys realized to the parties entitled .
2. Such person, in the of the court, may be required to give to the state of Missouri, with good , in such sum as the court may deem proper, for the faithful of his duty, and for payment of parties entitled thereto of all moneys collected.
3. The may be from the upon his application, or upon the application of a majority of the , when it appears to the court that it is not for the best interest of distributees that the trust be continued.
(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
Tap any gold-underlined word to see what it means.
Related Missouri laws
Partition of personal property in kind
RSMo 473.640
Notice of application for partition
RSMo 473.647
Distributees to refund, when
RSMo 473.637
Distributee may credit share against purchase price, when
RSMo 473.650
Interest on general legacies
RSMo 473.633
Proceedings to compel distribution
RSMo 473.653
Legal information, not legal advice. Always confirm with the official source at revisor.mo.gov.