442.090. Conveyances by minor veterans valid when necessary to obtain advantage of federal law.
Conveyances by minor veterans valid when necessary to obtain advantageof federal law.
442.090. 1. For the purposes of taking advantage of the Servicemen'sReadjustment Act of 1944, as amended, any person who is a resident ofMissouri and who served honorably in the active military or naval serviceof the United States may execute a deed of trust, mortgage, or otherinstrument, affecting the title to or disposition of real or personalproperty, or a power of attorney, the validity of which is governed by thelaw of this state.
2. For the purpose of taking advantage of such federal act, asamended, such person may also contract, or borrow money, for the purchaseor construction of homes, farms and business property whether the money isto be used in purchasing residential property or in constructing a dwellingon unimproved property owned by the veteran to be occupied as his or herhome.
3. For the purposes of taking advantage of such federal act, asamended, such person may also borrow money for the purpose of makingrepairs, alterations, or improvements in, or paying delinquentindebtedness, taxes, or special assessments on residential property ownedby the veteran and used by him or her as his or her home.
4. For the purposes of taking advantage of such federal act, asamended, such person may also borrow money to purchase any land, buildings,livestock, equipment, machinery or implements, or in repairing, altering,or improving any buildings or equipment, to be used in farming operations,borrow money to purchase any business, land, buildings, supplies,equipment, machinery, or tools to be used in pursuing a gainful occupation,other than farming, and to borrow money, enter into a contract, agreementor other instrument in writing as may be necessary pursuant to theServicemen's Readjustment Act of 1944, as amended.
(L. 1945 p. 1182 § 1, A.L. 1953 p. 616, A.L. 1999 H.B. 136 merged with S.B. 188)