2005 Missouri Revised Statutes - § 528.600. — Note to be taken for deferred sums--form of--shall express what --bidder with interest in property.

528.600. 1. The sheriff or commissioner making a sale under the provisions of this chapter shall not take any negotiable notes in payment of deferred sums, but such notes shall express on their face that they are given to the sheriff or commissioner as trustee in partition, and shall impart notice to all persons of such trust.

2. When an entire property is ordered to be sold, the sheriff or commissioner making a sale under the provisions of this chapter shall take, from any party adjudged to have any right in the said property pursuant to section 528.160, cash, cashier's check, money order or other negotiable instrument acceptable to the sheriff or as provided by local court rule, in an amount equal to the difference between the total amount of the bid and the value of the interest of the bidder therein so that the said bidder shall receive a credit for the value of the interest.

(RSMo 1939 § 1768, A.L. 1997 S.B. 387)

Prior revisions: 1929 § 1604; 1919 § 2052; 1909 § 2617

Effective 7-7-97