442.586. Lands owned by resident aliens--cessation of residence--failure to divest, effect. - Missouri Statutes

Lands owned by resident aliens--cessation of residence--failure todivest, effect.

442.586. Sections 442.560 to 442.591 shall not apply to agriculturalland now owned in this state by aliens or foreign businesses so long as itis held by the present owners or their direct descendants including anytrust for the benefit of either and any legal person owned or controlled byeither including but not limited to corporations, limited liabilitycorporations, partnerships, and limited liability partnerships, nor to anyalien who is or shall take up bona fide residence in the United States; andany alien who is or shall become a bona fide resident of the United Statesshall have the right to acquire and hold agricultural lands in this stateupon the same terms as citizens of the United States during the continuanceof such bona fide residence in the United States; except, that if anyresident alien shall cease to be a bona fide resident of the United States,such alien shall have two years from the time he ceased to be a bona fideresident in which to divest himself of such agricultural lands. Anyagricultural lands not divested within the time prescribed shall be orderedsold by the court at a public sale in the manner prescribed by law for theforeclosure of a mortgage on real estate for default in payment.

(L. 1978 S.B. 685 § 6, A.L. 1993 H.B. 566 merged with S.B. 84, A.L. 1999 H.B. 708)