ND HB1284

Creates new section 32-16-49 establishing a buyout procedure for cotenant interests in estates of inheritance subject to partition actions.

Court appoints a referee to obtain a fair market value appraisal when property cannot be partitioned without prejudice and a sale is requested by one or more cotenants.

Any cotenant may purchase the interests of cotenants requesting a sale at the appraised fair market value of the selling cotenant's fractional interest.

If multiple cotenants offer to purchase, the court shall equitably allocate the interests among the purchasing cotenants.

Amends section 30.1-20-11 to allow district courts to direct sales of estate property only when a buyout has not been agreed upon pursuant to the new buyout provision.