Bill > H4092

This bill establishes a process for the partition of "heirs property", which is defined as real property held in tenancy in common where 20% or more of the interests are held by relatives. The key provisions of the bill include: - Requiring the court to determine if the property is "heirs property" and, if so, to follow the procedures outlined in the bill rather than the default partition procedures. - Establishing a process for determining the fair market value of the property, including through an appraisal or agreement of the cotenants. - Allowing cotenants, except those who requested partition by sale, to buy out the interests of cotenants who requested partition by sale. - Requiring the court to order partition in kind (dividing the property) unless it would result in great prejudice to the cotenants as a group. - Allowing partition by sale only if partition in kind is not feasible and no cotenant buys out the interests of those requesting partition by sale. - Providing guidance to the court on factors to consider in determining whether partition in kind would result in great prejudice. - Establishing procedures for an open-market sale, sealed bid sale, or auction if partition by sale is ordered.

Justice

https://malegislature.gov/Bills/191/H4092