Senate Bill 2673 Summary

• Creates the "Uniform Partition of Heirs Property Act" to establish special procedures for partitioning real property held in tenancy in common where at least 20% of interests are held by relatives or acquired from relatives.

• Requires courts to determine fair market value through court-appointed appraisals (unless all cotenants agree on value), with 30-day objection periods and evidentiary hearings before finalizing the valuation.

• Allows cotenants to purchase the interests of other cotenants who request partition by sale within 45 days of the value determination, with purchase prices based on fractional ownership.

• Directs courts to order partition in kind (physical division) unless it would cause manifest prejudice, considering factors including practicability, property value loss, duration of family ownership, sentimental attachment, and maintenance contributions.

• Mandates open-market sales as the default if partition by sale is ordered, with court-appointed real estate brokers offering property at prices no lower than the determined value, unless sealed bids or auction would be more advantageous.