516.150. No action to foreclose mortgage after note barred. - Missouri Statutes

No action to foreclose mortgage after note barred.

516.150. No suit, action or proceeding under power of saleto foreclose any mortgage or deed of trust, to secure anyobligation to pay money or property, shall be had or maintainedafter such obligation has been barred by the statutes oflimitation of this state; nor in any event after the lapse oftwenty years from the date at which the last maturing obligationsecured by the instrument sought to be foreclosed is due on theface of such instrument, unless such termination of said periodfalls within two years after the passage of this section, or hasheretofore happened, in which event such suit, action orproceeding may be begun within two years after the passage ofthis section without regard to the date of the instrument or thematurity of the obligation, unless otherwise barred under theprovisions of the general statutes of limitation, unless beforethe lapse of said twenty years the owner of the debt therebysecured or some person for him shall file an affidavit dulyverified, or file an instrument in writing acknowledged as deedsare required to be acknowledged in order to entitle them torecord in this state, showing the amount due and owing thereon.

(RSMo 1939 § 1017)

Prior revisions: 1929 § 865; 1919 § 1320; 1909 § 1892