State Codes and Statutes
Statutes > Missouri > T07 > C092 > 92_815Redemption contracts, installment payments.
92.815. 1. During such waiting period and at any time priorto the time of foreclosure sale by the sheriff, any interestedparty may redeem any parcel of real estate as provided bysections 92.700 to 92.920; except that during such time and atany time prior to the time of foreclosure sale by the sheriff,the collector shall enter into a written redemption contract withthe owner of any real estate occupied as a homestead and who hasnot previously defaulted upon any such written redemptioncontract, provided that in no instance shall such installmentsexceed twelve in number or extend more than twenty-four monthsnext after any agreement for such installment payments shall havebeen entered into; provided further, that upon good cause beingshown by the owner of any parcel of real estate occupied as ahomestead, or in the case of improved real estate with a totalassessed valuation of not more than five thousand dollars, ownedby an individual, the income from such property being a majorfactor in the total income of such individual, or by anyone onhis behalf, the court may, in its discretion, fix the time andterms of payment in such contract to permit all of suchinstallments to be paid within not longer than forty-eight monthsafter any order or agreement as to installment payments shallhave been made.
2. So long as such installments be paid according to theterms of the contract, the six months' waiting period shall beextended, but if any installment be not paid when due, theextension of the waiting period shall be ended and the realestate shall immediately be advertised for sale or included inthe next notice of sheriff's foreclosure sale. Notice shall alsobe sent to the redemption contract payor as specified insubsection 3 of section 92.810.
(L. 1971 H.B. 472 § 20, A.L. 1989 H.B. 342)
