MS HB733

Amends Mississippi Code sections 11-21-11 and 11-21-27 to require court-ordered sales of property that cannot be equally divided among cotenants be conducted by a licensed real estate broker in an open-market sale, unless the court finds sealed bids or auction would be more advantageous.

Replaces the role of "master" with a licensed real estate broker to conduct the sale in a commercially reasonable manner at a price no lower than the court-determined value.

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

Permits the court to order alternative sales methods (sealed bids or auction) if the broker fails to obtain an offer meeting the appraised value within a reasonable time, or allows approval of the highest outstanding offer after a hearing.

Takes effect July 1, 2020.