Missouri Laws 448.4-110 – Escrow of deposits
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Terms Used In Missouri Laws 448.4-110
- Escrow: Money given to a third party to be held for payment until certain conditions are met.
- person: may extend and be applied to bodies politic and corporate, and to partnerships and other unincorporated associations. See Missouri Laws 1.020
- 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
Any deposit made in connection with the purchase or reservation of a unit from a person required to deliver an original sale certificate pursuant to subsection 3 of section 448.4-102 shall be placed in escrow and held either in this state or in the state where the unit is located until refunded to purchaser pursuant to section 448.4-108 or the cancellation period provided therein expires.