Senate Bill 2229 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 courts to determine fair market value through court-ordered appraisals by licensed real estate appraisers, with parties having 30 days to object and courts conducting hearings before finalizing valuations.

• Allows cotenants to purchase the interests of cotenants requesting partition by sale at prices based on the determined fair market value, with a 45-day election period and 60-day payment deadline.

• Establishes preference for partition in kind (dividing property into separate parcels) unless courts find it would cause manifest prejudice, considering factors including divisibility, value loss, duration of family ownership, sentimental attachment, and maintenance contributions.

• Requires open-market sales as the default method for court-ordered sales of heirs property, with courts appointing licensed brokers and establishing reasonable commissions, unless sealed bids or auction would be more economically advantageous.

• Effective July 1, 2020.