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Section 67.1630 Member property acquired by eminent domain, program benefits may be claimed, when.

MO Rev Stat § 67.1630 (2019) (N/A)
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Effective 28 Aug 1999

67.1630. Member property acquired by eminent domain, program benefits may be claimed, when. — When a guaranteed residence is to be acquired through the use of eminent domain by a condemning body, the following procedures shall apply:

(1) If the member rejects an offer from the condemning body equal to or greater than the guaranteed value, then no benefits may be claimed pursuant to the program;

(2) If the condemning body offers less than the guaranteed value, the governing commission may either:

(a) Pay one hundred percent of the difference between the guaranteed value and the offered price if the member agrees to sell at the offered price; or

(b) Advise the member that the offer is inadequate and should be refused. If the member refuses the offer and the final court determination of the value of the property is less than the guaranteed value, then the program shall pay one hundred percent of the difference between the judgment and the guaranteed value.

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(L. 1999 S.B. 20)

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Section 67.1627 Payment program not made until sale closed and title or proprietary interest passed.
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Section 67.1633 Member may apply for new appraisal, new guaranteed value and new certificate, when.