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FL S0580
Bill
Status
6/22/2020
Primary Sponsor
Community Affairs
Click for details
AI Summary
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Creates the Uniform Partition of Heirs Property Act as part II of chapter 64, Florida Statutes, establishing specialized procedures for partitioning heirs property held in tenancy in common.
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Defines heirs property as real property held in tenancy in common where at least one cotenant acquired title from a relative and at least 20% of interests are held by relatives or acquired from relatives.
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Requires courts to determine fair market value through licensed appraisers, establishes a cotenant buyout process allowing non-selling cotenants to purchase interests of those requesting partition by sale within 45 days.
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Provides alternatives for partition including partition in kind (physical division) unless commissioners find it would prejudice cotenants, with factors including property divisibility, sentimental value, duration of family ownership, and maintenance contributions.
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Authorizes sales through open-market sale, sealed bids, or auction if partition in kind is not ordered, with real estate brokers appointed by the court at reasonable commissions and sales conducted at prices no lower than determined value; effective July 1, 2020.
Legislative Description
Uniform Partition of Heirs Property Act
Last Action
Chapter No. 2020-55
6/22/2020