MS HB704

Amends Mississippi Code sections 11-21-11 and 11-21-27 to replace court-appointed masters with licensed real estate brokers for selling property that cannot be equally divided among cotenants.

Requires open-market sales conducted by a licensed Mississippi real estate broker unless the court finds sealed bids or auction would be more economically advantageous.

Allows cotenants to agree on a broker within 10 days of court order; if no agreement is reached, the court appoints a disinterested broker and establishes a reasonable commission.

Requires the broker to offer property at a price no lower than the court-determined appraised value in a commercially reasonable manner, with the court able to approve lower offers, redetermine value, or order sealed bids/auction if minimum value is not met within a reasonable timeframe.

Effective July 1, 2019.