253.405. Sale or lease of acquired property subject to restrictions--reversion clause. - Missouri Statutes

Sale or lease of acquired property subject to restrictions--reversionclause.

253.405. The department, using moneys from this fund, mayacquire or, in the case of property on which moneys from thisfund have been expended, dispose of the fee or lesser interest toany historic property, including adjacent and associated lands,for the specific purpose of conveying or leasing the propertyback to its original owner or to any such other person, firm,association, corporation or other organization under suchcovenants, deed restrictions, lease or other contractualarrangements as will limit the future use of the property in sucha way as to insure its preservation. In all cases where propertyon which money from this fund has been expended is conveyed orleased, it shall be subjected by covenant, or otherwise, to suchrights of access, public visitation and other conditions as maybe agreed upon between the department and the grantee or lesseeto accomplish the purpose of this section. Any conveyance orlease shall contain a reversion clause providing that, in theevent the historic property is not operated, maintained, restoredand repaired in accordance with the provisions of this section orin such a way as to insure its preservation, title and control ofsuch property shall immediately revert to and vest in thegovernor.

(L. 1979 S.B. 127 § 6)