Carol is a real estate agent in Missouri helping a buyer who previously experienced a trustee's sale foreclosure in Missouri. The buyer asks Carol whether Missouri law provides any right to reclaim the property after the trustee's sale is completed. Which of the following most accurately describes Missouri's post-sale redemption rights in a non-judicial deed of trust foreclosure?
Correct Answer
C) Missouri does not provide a statutory right of redemption after a completed non-judicial trustee's sale under a deed of trust
Unlike states with judicial foreclosure that commonly provide statutory redemption periods (often six months to one year), Missouri does not provide a post-sale statutory right of redemption after a completed non-judicial trustee's sale under a deed of trust. Once the trustee's sale is properly conducted following the 20-day publication notice under RSMo §§ 443.290–443.430, the sale is final and the former borrower has no statutory right to redeem the property by paying the sale price. This is a significant distinction from judicial foreclosure states and is a frequently tested trap on the Missouri exam.
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