Missouri Laws 42.115 – Grants, gifts, bequests, authority to receive — sale of property real and ..
Terms Used In Missouri Laws 42.115
- Bequest: Property gifted by will.
- Devise: To gift property by will.
- Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
- Property: includes real and personal property. See Missouri Laws 1.020
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
- State: when applied to any of the United States, includes the District of Columbia and the territories, and the words "United States" includes such district and territories. See Missouri Laws 1.020
The commission may receive any grant or devise of land, or any gift or bequest of money or other personal property made to a Missouri veterans’ home, as an endowment of the Missouri veterans’ homes, thereby vesting title to any such property in the governor of the state of Missouri for the sole use and benefit of the homes. The governor, upon authorization by the general assembly, may sell, convey, or otherwise convert into money any such real property for the use and benefit of the Missouri veterans’ homes. Any property other than real property which the executive director deems unusable by or in excess of the current needs of Missouri veterans’ homes may be disposed of to the highest bidder through the Missouri state agency for surplus property. All income derived from the disposition of property, real or personal, under this section shall be deposited in the state treasury to the credit of the Missouri veterans’ homes fund.