MS HB807

Amends Mississippi Code sections 11-21-11 and 11-21-27 to authorize courts to appoint a licensed real estate broker to sell jointly-held property that cannot be divided equally among cotenants.

Requires sales to be conducted as open-market sales by a licensed broker unless the court determines that sealed bid sales or auctions would be more economically advantageous.

Allows cotenants 10 days after court order to agree on a broker; if no agreement is reached, the court appoints a disinterested licensed broker.

Establishes that brokers must offer property at prices no lower than the court-determined value and on terms set by the court; if minimum value offers are not obtained within a reasonable time, the court may approve the highest offer, redetermine value, or order sealed bid or auction sales.

Takes effect July 1, 2017.