Current with changes from the 2024 Legislative Session
Section 140.230 - Foreclosure sale surplus - deposited in treasury - escheats, when - proof of claims1. When real estate has been sold for taxes or other debt by the sheriff or collector of any county within the state of Missouri, and the same sells for a greater amount than the debt or taxes and all costs in the case it shall be the duty of the sheriff or collector of the county, when such sale has been or may hereafter be made, to make a written statement describing each parcel or tract of land sold by him for a greater amount than the debt or taxes and all costs in the case together with the amount of surplus money in each case. The statement shall be subscribed and sworn to by the sheriff or collector making it before some officer competent to administer oaths within this state, and then presented to the county commission of the county where the sale has been or may be made; and on the approval of the statement by the commission, the sheriff or collector making the same shall pay the surplus money into the county treasury, take the receipt in duplicate of the treasurer for the surplus of money and retain one of the duplicate receipts and file the other with the county commission, and thereupon the commission shall charge the treasurer with the amount.2. The treasurer shall place such moneys in the county treasury to be held for the use and benefit of the person entitled to such moneys or to the credit of the school fund of the county, to be held in trust for the lesser of a term of three years or ninety days following the expiration of the redemption period for the lienholders of record or for the publicly recorded owner or owners of the property sold at the time of the delinquent land tax auction or their legal representatives. The surplus shall be first distributed to the former lienholders of record, by priority of the former liens, if any, then to the former owner or owners of the property. Lien priority shall be set as of the date of the tax sale. No surplus funds shall be distributed to any party claiming entitlement to such funds, other than as part of the redemption process, until ninety days have passed after the period of redemption has expired. At the end of three years, if any funds have not been distributed or called for as part of a redemption or collector's deed issuance, then such funds shall become a permanent school fund of the county.3. County commissions shall compel owners, lienholders of record, or agents to make satisfactory proof of their claims before receiving their money; provided, that no county shall pay interest to the claimant of any such fund. Any such claim shall be filed with the county commission within ninety days after the expiration of the redemption period, be made in writing, and include reference to the lien of record upon which the claim is made. The reference shall include the county recorder's recording reference information such as book and page number, document number, or other reference information if the lien is not referenced either by book or page number or document number. Should more than one party make claim to any surplus funds and those parties are unable to reach an agreement satisfactory to the county commission, the county commission shall petition the circuit court within the county where the county commission sits for interpleader. The county commission shall only be required to name as defendants those parties who have made claim to the funds. Upon judgment sustaining the petition for interpleader and the subsequent tender of the surplus funds to the court registry, the county commission so tendering such funds shall be entitled to seek discharge from the case.Amended by 2018 Mo. Laws, SB 623,s A, eff. 8/28/2018.Amended by 2013 Mo. Laws, SB 248,s A, eff. 8/28/2013.Amended by 2013 Mo. Laws, HB 175,s A, eff. 8/28/2013.Prior revisions: 1929 § 9959; 1919 § 12949; 1909 § 11502