Mo. Rev. Stat. » Chapter 473
Missouri Revised Statutes

Mo. Rev. Stat. § 473.387 (2026)

Secured claims

✓ current as of May 2026
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  473.387.  Secured claims — surrender of security — payment. — When a creditor holds any security for his claim, the security shall be described in the claim.  If the claim is secured by a mortgage, pledge, or other lien which has been recorded or filed for record, it is sufficient to describe the lien by date, and refer to the volume, page and place of recording or filing and the names of parties thereto.  The claim shall be allowed in the same amount as if it were unsecured and the judgment allowing it shall describe the security.  The creditor may surrender his security and be paid out of the assets of the estate.  Nothing in this law shall be construed to compel the creditor to surrender his security until he receives payment of his debt in full or he is paid the value of the security.  Payment of the claim shall be upon the basis of the full amount allowed if the creditor surrenders his security; otherwise payment shall be upon the basis of one of the following:

  (1)  If the creditor exhausts his security before receiving payment, then upon the basis of the full amount of the claim less the amount realized upon exhausting the security;

  (2)  If the creditor has not exhausted or does not have the right to exhaust his security, then upon the basis of the full amount of the claim less the value of the security determined by converting the same into money according to the terms of the agreement pursuant to which the security was delivered to the creditor, or by the creditor and personal representative by agreement, arbitration, compromise, or litigation.

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(L. 1955 p. 385 § 147, A.L. 1980 S.B. 637)

Effective 1-01-81

(1961) Where parties to divorce suit entered into property settlement which provided for the payment of the attorneys for both parties, the claim for the attorney fees upon the death of one of the parties to the divorce action who signed the agreement could be established in the probate court. Yonke v. Albert's Estate (A.), 351 S.W.2d 794.

Notes of Decisions
Cited in 3 cases, 1968–1989 · leading case: Trenton Trust Co. v. Est. of Maxwell, 739 S.W.2d 742 (Mo. Ct. App. 1987).
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Trenton Trust Co. v. Est. of Maxwell, 739 S.W.2d 742 (Mo. Ct. App. 1987). · cites it 3× “The respondent estate’s claim that Trenton Trust Company must exhaust its security, convert the security into money and collect any deficit from the estate, or surrender its security to the estate is in direct conflict with § 473.387, R.S.Mo., 1986, and Yonke v. Estate of Alber,…”
Reinhardt v. Nikolaisen, 775 S.W.2d 284 (Mo. Ct. App. 1989). · cites it 3× “Plaintiffs also rely on § 473.387, RSMo 1986, which concerns filing secured claims in probate court.”
In Re the Est. of Hill, 435 S.W.2d 722 (Mo. Ct. App. 1968). “Morrison quite properly and candidly concedes [§ 473.387(1)] the judgment entered in his favor in the sum of $1,793 was error and the correct amount of the judgment should be $55.”
Mo. Rev. Stat. § 473.387(1): 1 case
In Re the Est. of Hill, 435 S.W.2d 722 (Mo. Ct. App. 1968). “Morrison quite properly and candidly concedes [§ 473.387(1)] the judgment entered in his favor in the sum of $1,793 was error and the correct amount of the judgment should be $55.”
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