NC H367

Enacts the Uniform Partition of Heirs Property Act as Part 4 of Chapter 46A, establishing procedures for partitioning real property held in tenancy in common by relatives or inherited from relatives.

Defines "heirs property" as real property in tenancy in common where no binding partition agreement exists, at least one cotenant acquired title from a relative, and 20% or more of interests are held by relatives or acquired from relatives.

Requires courts to determine fair market value through appraisal by a licensed real estate appraiser, with parties having 30 days to object and the court conducting a hearing at least 30 days after appraisal notice.

Establishes a cotenant buyout process allowing cotenants to purchase interests of those requesting partition by sale, with purchase prices based on the appraised fair market value multiplied by fractional ownership, with 45-day notice periods and 60-day payment deadlines.

Prioritizes partition in kind (dividing property into separate parcels) unless the court finds substantial injury to cotenants as a group, considering factors including practicability, loss of value, collective family history, sentimental attachment, and contributions to maintenance and taxes; partition by sale occurs only as alternative when partition in kind is not ordered.