Distributee may credit share against purchase price, when
When property from an estate is sold to divide it among the heirs, one of those heirs can buy the property at the sale. If that heir is a buyer, the share of the estate money they were supposed to receive counts as part of their payment for the property. The court then treats that amount as already paid out to that person.
473.650. may share against purchase price, when. — If a distributee becomes a purchaser of the property at a sale for the purpose of making , his receipt for the amount of his share shall be received in payment of an equal amount of the , and the court shall allow the amount of such receipt as so much under the .
(RSMo 1939 § 243, A.L. 1955 p. 385 § 227)
Prior revisions: 1929 § 244; 1919 § 243; 1909 § 252
Tap any gold-underlined word to see what it means.
Related Missouri laws
Notice of application for partition
RSMo 473.647
Proceedings to compel distribution
RSMo 473.653
Property sold to effect partition, when
RSMo 473.643
Distribution
RSMo 473.657
Partition of personal property in kind
RSMo 473.640
Discharge of personal representative
RSMo 473.660
Legal information, not legal advice. Always confirm with the official source at revisor.mo.gov.