Missouri Laws 426.410 – Defining the power and authority of assignees
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Terms Used In Missouri Laws 426.410
- Attachment: A procedure by which a person's property is seized to pay judgments levied by the court.
- Deed: The legal instrument used to transfer title in real property from one person to another.
- Property: includes real and personal property. See Missouri Laws 1.020
- Prosecute: To charge someone with a crime. A prosecutor tries a criminal case on behalf of the government.
- 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
- Trustee: A person or institution holding and administering property in trust.
- Writ: A formal written command, issued from the court, requiring the performance of a specific act.
Every assignee under the general assignment law of this state is hereby declared to be a trustee for the benefit of the creditors of his assignor. Any such assignee shall have the power and authority to prosecute such actions for property and make such defense to claims against the assigned property as a trustee in a deed of trust, or an attachment or execution creditor with a writ levied on such property could prosecute or make.