Sale of property, buyer must own for three years — violation, civil liability.

1. Law
2. Missouri Revised Statutes
3. Taxation and Revenue
4. Collection of Delinquent Taxes Generally
5. Sale of property, buyer must own for three years — violation, civil liability.

Effective - 28 Aug 2019

140.987. Sale of property, buyer must own for three years — violation, civil liability. — A land bank agency shall ensure that any contract for the sale of residential property owned by the land bank agency shall have a clause that the buyer shall own the property for three years following the buyer's purchase of the property from the land bank. The clause shall state that a violation of those terms makes the buyer civilly liable to the land bank agency for an amount equal to twice the sale price of the property.

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(L. 2019 H.B. 821)

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