MS SB2698

Enacts the Uniform Partition of Heirs Property Act to govern partition actions filed on or after July 1, 2016, for real property held in tenancy in common that meets specific criteria including acquisition from a relative and at least 20% relative ownership or interest.

Requires courts to determine fair market value through court-appointed appraisals unless all cotenants agree on valuation, with notice to parties and 30-day objection periods before final determination.

Establishes a cotenant buyout process allowing non-selling cotenants to purchase the interests of cotenants requesting partition by sale within 45 days at a price based on the court's valuation determination.

Provides for partition alternatives prioritizing partition in kind (physical division) unless the court finds it would cause manifest prejudice, considering factors such as divisibility, value loss, duration of ownership, sentimental attachment, and property use.

Authorizes court-ordered sales by open-market, sealed bid, or auction if partition in kind is not ordered, with specific procedures for broker appointment, offers at or above determined value, and reporting requirements.