Missouri Revised Statutes













Chapter 429

Statutory Liens Against Real Estate

←429.625

Section 429.627.1

429.629→

August 28, 2015

Lien preventing closing, escrow account to be established with clerk of circuit court--funds in account held until parties' rights determined--release of broker's lien when.

429.627. Unless an alternative procedure is available and is acceptable

to the transferee in a real estate transaction, if a claim for a real estate

broker's lien has been filed with the county recorder of deeds and such lien

would prevent the closing of a transaction or conveyance, an escrow account

shall be established with the clerk of the circuit court in the county in

which the commercial real estate is located from the proceeds of the

transaction or conveyance in an amount sufficient to release the claim for

the lien. The requirement to establish an escrow account, as provided in

this section, shall not be cause for any party to refuse to close a

transaction. The proceeds held in such escrow account shall be held by the

circuit clerk until the parties' rights to the escrowed funds have been

determined by written agreement of the parties, by a final judgment of the

circuit court or by other process as may be agreed to by the parties. If

funds sufficient to satisfy the amount claimed in the lien have been

deposited in the escrow account, the real estate broker shall release the

claim for the lien on such real estate.



(L. 1993 S.B. 18 § 11)



(2000) Execution by a holder of a deed of trust of a statutorily

required deed of release in exchange for application of sale proceeds

does not result in a loss of lien priority to a broker's lien

asserted against proceeds of sale by the real estate broker under the

Commercial Real Estate Brokers' Lien Act. Dalton Investments, Inc.

v. Nooney Co., 10 S.W.3d 590 (Mo.App.E.D.).







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