Bill > H1964

This bill introduces comprehensive new provisions for handling "heirs property" - real property held in common ownership where at least 20% of the interests are owned by relatives who inherited the property or acquired it from a relative. The legislation creates a detailed framework for partition actions (legal proceedings to divide jointly owned property) that aims to protect the interests of all co-owners. Key provisions include requiring a conspicuous sign to be posted on the property when a partition action is filed, mandating a court-ordered appraisal to determine the property's fair market value, and establishing a structured process that gives co-owners multiple opportunities to buy out the interests of those seeking to sell the property. If no co-owners want to purchase the entire property, the court must first consider partitioning the property physically (partition in kind) and only order a sale if physical division would cause significant prejudice to the co-owners. When a sale is necessary, the bill requires an open-market sale process with specific reporting requirements and attempts to maximize the property's value. The bill is designed to provide a more equitable and transparent method for resolving disputes over inherited property, particularly protecting the interests of family members who may have historical or sentimental attachments to the land.

Justice

https://malegislature.gov/Bills/194/H1964