260.1027. Amendment or termination of a covenant, requirements--interest in property not affected by amendment. - Missouri Statutes

Amendment or termination of a covenant, requirements--interest inproperty not affected by amendment.

260.1027. 1. An environmental covenant may be amended or terminatedby consent only if the amendment or termination is signed by:

(1) The department;

(2) Unless this requirement is waived by the department, the currentowner of the fee simple of the real property subject to the covenant;

(3) Each person that originally signed the covenant, unless theperson waived in a signed record the right to consent or a court finds thatthe person no longer exists or cannot be located or identified with theexercise of reasonable diligence; and

(4) The holder, except as otherwise provided in subsection 4 of thissection.

2. If an interest in real property is subject to an environmentalcovenant, the interest is not affected by an amendment of the covenantunless the current owner of the interest consents to the amendment or haswaived in a signed record the right to consent to amendments.

3. Except for an assignment undertaken under a governmentalreorganization, assignment of an environmental covenant to a new holder isan amendment.

4. Except as otherwise provided in an environmental covenant:

(1) A holder may not assign its interest without consent of the otherparties;

(2) A holder may be removed and replaced by agreement of the otherparties specified in subsection 1 of this section.

5. A court of competent jurisdiction may fill a vacancy in theposition of holder.

(L. 2007 S.B. 54)

Effective 1-01-08