If someone owes money on a loan that is backed by a mortgage or deed of trust, and the deadline to sue over that debt has already passed, then no one can take steps to foreclose on the property either. Even if the debt deadline hasn't passed yet, foreclosure still cannot happen more than 20 years after the last payment on the loan was due. However, if the owner of the debt files a signed, notarized paper before those 20 years are up showing how much is still owed, the clock can be extended.
516.150. No to after note . — No suit, under to foreclose any mortgage or , to secure any to pay money or property, shall be had or maintained after such obligation has been barred by the of this state; nor in any event after the of twenty years from the date at which the last maturing obligation secured by the sought to be is due on the face of such instrument, unless such of said period falls within two years after the passage of this section, or has heretofore happened, in which event such suit, action or proceeding may be begun within two years after the passage of this section without regard to the date of the instrument or the of the obligation, unless otherwise barred under the of the general statutes of limitation, unless before the lapse of said twenty years the owner of the debt thereby secured or some person for him shall file an , or file an instrument in writing as s are required to be acknowledged in to entitle them to in this state, showing the amount due and owing thereon.
(RSMo 1939 § 1017)
Prior revisions: 1929 § 865; 1919 § 1320; 1909 § 1892
Tap any gold-underlined word to see what it means.
Related Missouri laws
What actions within one year
RSMo 516.145
Mortgages last maturing obligation is due, how determined
RSMo 516.155
What actions within two years
RSMo 516.140
In account current, when cause of action accrued
RSMo 516.160
What actions within three years
RSMo 516.130
May delay filing of action, when
RSMo 516.170
Legal information, not legal advice. Always confirm with the official source at revisor.mo.gov.