141.940. Approval of sale by court--sheriff to report bids to court--acceptance, when (St. Louis). - Missouri Statutes

Approval of sale by court--sheriff to report bids tocourt--acceptance, when (St. Louis).

141.940. 1. Whenever a sale under execution on a taxjudgment shall be had, the sheriff shall announce that such saleis subject to the approval of the court, and the sheriff shallreport the sale and the amount of the bid to the court in whichjudgment was rendered, and the court shall appoint twodisinterested and competent appraisers, who shall appraise thevalue of the property and the improvements thereon.

2. If the amount bid by the purchaser at the execution saleshall exceed fifty percent of the value of the property, thecourt shall confirm the sale, and the sheriff shall execute adeed for the property.

3. If the amount bid by the purchaser is less than fiftypercent of the appraised value of the property, and the titlewhich would be acquired by the purchaser is subject to othertaxes, which are a lien superior to the lien of the taxes forwhich the judgment was rendered, and the combined amount of suchprior liens and the amount bid by the purchaser shall exceedfifty percent of the appraised value of the property, the courtshall likewise confirm the sale, and the sheriff shall execute adeed to the purchaser.

4. If the amount bid, together with prior tax liens, if any,shall be less than fifty percent of the appraised value of theproperty, the court may require the purchaser to increase his bidto an amount equal to fifty percent of such appraised value, andif the purchaser agrees so to do, and makes such additionalpayment, the sale shall be approved, and the sheriff shallexecute and deliver a deed to the purchaser, but if the purchaserdeclines to increase his bid and make such additional payment,the sale shall be disapproved and the lien of the judgmentcontinued, subject to the issuance of subsequent executions.

(RSMo 1939 § 11191)