528.600. Note to be taken for deferred sums--form of--shall express what--bidder with interest in property. - Missouri Statutes

Note to be taken for deferred sums--form of--shall expresswhat--bidder with interest in property.

528.600. 1. The sheriff or commissioner making a sale under theprovisions of this chapter shall not take any negotiable notes in paymentof deferred sums, but such notes shall express on their face that they aregiven to the sheriff or commissioner as trustee in partition, and shallimpart notice to all persons of such trust.

2. When an entire property is ordered to be sold, the sheriff orcommissioner making a sale under the provisions of this chapter shall take,from any party adjudged to have any right in the said property pursuant tosection 528.160, cash, cashier's check, money order or other negotiableinstrument acceptable to the sheriff or as provided by local court rule, inan amount equal to the difference between the total amount of the bid andthe value of the interest of the bidder therein so that the said biddershall receive a credit for the value of the interest.

(RSMo 1939 § 1768, A.L. 1997 S.B. 387)

Prior revisions: 1929 § 1604; 1919 § 2052; 1909 § 2617

Effective 7-7-97