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Updated over 7 years ago on . Most recent reply
Missouri Options Statutes
I'm interested in finding out if there is a Missouri Statute regarding real estate options. Specifically, I'd like to know if there's a stated maximum allowable time limit? Can options run in perpetuity? If anyone could point me to a link or the exact chapter and section that would be great.
@Bill Gulley with your background I think you may be a prime candidate to answer this one, but others certainly may know as well.
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#3 Guru, Book, & Course Reviews Contributor
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An option must be for a stated period of time, try 99 years, lol.
The issue isn't at the state level, it's federal and with the IRS, as well as CFPB then financing if you apply payments to any purchase price.
Options will be considered an installment sale if not properly drawn giving a reason why the sale cannot be made at that option date, see your CPA.
All the best :)