HB 1151 Summary

• Creates the "Uniform Partition of Heirs Property Act" establishing 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 plaintiffs in heirs property partition actions to post conspicuous notice on the property and establishes court-ordered appraisal procedures to determine fair market value, with parties having 30 days to object.

• Allows cotenants to purchase the interests of cotenants requesting partition by sale within 45 days at a price based on their fractional ownership, with provisions for multiple buyers and unresolved interests.

• Requires courts to order partition in kind (physical division) unless it would result in manifest prejudice, considering factors like divisibility, property value loss, ancestral significance, and maintenance contributions; otherwise orders partition by sale.

• Establishes procedures for open-market sales, sealed bid sales, or auctions of heirs property, with brokers required to file reports within 7 days of receiving acceptable offers, effective July 1, 2020.