SB 2553 — Uniform Partition of Heir Property Act; create.

SB2553 (As PassedSent theto Senate)Governor) - 2020 Regular Session MISSISSIPPI LEGISLATURE Regular Session To:

Senator(s) Blackmon, Blount, Jordan, Jackson (11th), Turner-Ford, Norwood, Simmons (12th), Horhn, Jackson (32nd), Witherspoon, Simmons (13th) Senate Bill 2553 (As PassedSent theto Senate)Governor) AN ACT TO CREATE THE "UNIFORM PARTITION OF HEIRSHEIR PROPERTY ACT";

TO ESTABLISH THE PROCEDURES TO BE FOLLOWED BY THE COURTS IN PARTITIONING REAL PROPERTY THAT IS DETERMINED TO BE HEIRSHEIR PROPERTY;

TO REQUIRE A PLAINTIFF IN A PARTITION ACTION INVOLVING HEIRSHEIR PROPERTY TO POST NOTICE OF THE ACTION ON THE PROPERTY;

TO PRESCRIBE THE MANNER BY WHICH THE FAIR MARKET VALUE OF HEIRSHEIR PROPERTY MUST BE DETERMINED;

TO AUTHORIZE COTENANTS TO BUY THE INTEREST OF ANOTHER COTENANT WHOTHAT HAS REQUESTED A PARTITION BY SALE;

TO ESTABLISH PROCEDURES FOR THE SALE OF HEIRSHEIR PROPERTY;

     SECTION 1.  Short title.  Sections 1 through 13 of this act may be cited as the Uniform Partition of HeirsHeir Property Act.

          (4)  "Determination of value" means a court order determining the fair market value of heirsheir property under Section 6 or 10 or adopting the valuation of the property agreed to by all cotenants.

          (5)  "Heirs"Heir property" means real property held in tenancy in common which satisfies all of the following requirements as of the filing of a partition action:

          (6)  "Partition by sale" means a court-ordered sale of the entire heirsheir property, whether by auction, sealed bids, or open-market sale conducted under Section 10.

          (7)  "Partition in kind" means the division of heirsheir property into physically distinct and separately titled parcels.

     (b)  In an action to partition real property under Title 11, Chapter 21, Mississippi Code of 1972, the court shall determine whether the property is heirsheir property.  If the court determines that the property is heirsheir property, the property must be partitioned under this act unless all of the cotenants otherwise agree in a record.

     (b)  If the plaintiff in a partition action seeks an order of notice by publication and the court determines that the property may be heirsheir property, the plaintiff, not later than ten (10) days after the court's determination, shall post and maintain while the action is pending a conspicuous sign on the property that is the subject of the action.  The sign must state that the action has commenced and identify the name and address of the court and the common designation by which the property is known.  The court may require the plaintiff to publish on the sign the name of the plaintiff and the known defendants.

     SECTION 6.  Determination of value.  (a)  Except as otherwise provided in subsections (b) and (c), if the court determines that the property that is the subject of a partition action is heirsheir property, the court shall determine the fair market value of the property by ordering an appraisal pursuant to subsection (d).

     (d) (d) After After expiration of the period in subsection (b), the following rules apply:

          (3) (3) If If more than one (1) cotenant pays the entire price for the remaining interest, the court shall reapportion the remaining interest among those paying cotenants, based on each paying cotenant's original fractional ownership of the entire parcel divided by the total original fractional ownership of all cotenants that paid the entire price for the remaining interest.

          (1)  Whether the heirsheir property practicably can be divided among the cotenants;

                   (4)  A cotenant's sentimental attachment to the property, including any attachment arising because the property has ancestral or other unique or special value to the cotenant;

     (b)  The court may not consider any one (1) factor in subsection (a) to be dispositive without weighing the totality of all relevant factors and circumstances.

     SECTION 10.  Open-market sale, sealed bids, or auction.  (a)  If the court orders a sale of heirsheir property, the sale must be an open-market sale unless the court finds that a sale by sealed bids or an auction would be more economically advantageous and in the best interest of the cotenants as a group.

     SECTION 11.  Report of open-market sale.  (a)  Unless required to do so within a shorter time by Title 11, Chapter 21, Mississippi Code of 1972, a broker appointed under Section 10(b) to offer heirsheir property for open-market sale shall file a report with the court not later than seven (7) days after receiving an offer to purchase the property for at least the value determined under Section 6 or 10.

     11-21-5.  Any of the parties in interest, whether infants or adults, may institute proceedings for the partition of lands or for a partition sale thereof, by judgment of court as herein provided, except that if the court determines that the property is heirsheir property under the Uniform Partition of HeirsHeir Property Act, then such partition or sale must comply with the provisions of Sections 1 through 13 of this act.  All persons in interest must be made parties except (a) in cases where a part of the freehold is owned by persons owning a life estate therein or a life tenancy therein subject to the rights of remaindermen or reversioners, then, in such event, it shall only be necessary that the person or persons owning or claiming a life estate or life tenancy therein be made parties;

     SECTION 15.  This act shall take effect and be in force from and after July 1, 2020, and shall stand repealed from and after June 30, 2020.