443.430. Motion for approval of bond for redemption--hearing--receiver--additional bond. - Missouri Statutes

Motion for approval of bond forredemption--hearing--receiver--additional bond.

443.430. A motion or application for the approval shall befiled with the bond in the office of the clerk of the circuitcourt and at least one day's notice in writing thereof and of thetime when the same will be filed and presented shall be given tothe purchaser at such sale if he is a resident of the county andcan be found therein, otherwise it shall be given to the trusteemaking the sale. If court should not be in session when suchbond and application are so filed the clerk may temporarilyapprove the same subject to future action of the court thereonbut unless so temporarily approved or presented to the court forconsideration within such twenty days the same shall be taken anddeemed as finally rejected and disapproved. The court maycontinue or adjourn the hearing or consideration of such bondwhen so within such twenty-day period temporarily approved by theclerk or presented to the court but the proceedings thereon shallbe speedily and summarily acted upon and settled including theright or not of the obligor or obligors in the bond to give bondand to make such redemption. The court at discretion may at suchhearing or consideration of such bond or at any time during theredemption period of one year appoint a receiver to take chargeand possession of and preserve the property so sold and to havethe rents and profits thereof subject to the orders of the court,and the net result therefrom shall belong to the owner of theequity of redemption if redemption be made, otherwise to thepurchaser at such sale. And the court may require additionalbond to be given as security at any time during such redemptionperiod on application of the purchaser with at least five days'notice of such application to the principal on the original bondor his attorney, or agent, or representative.

(RSMo 1939 § 3451, A.L. 1978 H.B. 1634)

Prior revisions: 1929 § 3064; 1919 § 2223

Effective 1-2-79

(1957) Notice requirement of this section is mandatory and ex parte approval of redemption bond by the court held erroneous and further proceedings in connection therewith would be prohibited. State ex rel. Hopkins v. Stemmons (A.), 302 S.W.2d 51.

(1957) Notice required by this section is mandatory and notification of trustee under § 443.110 did not relieve those seeking approval of bond of duty giving it. White v. Huffman (A.), 304 S.W.2d 909.