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Senate Bill 499 |
Senate Author: West |
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Effective: 9-1-17 |
House Sponsor: Wray |
Senate Bill 499 amends the Property Code to enact the Uniform Partition of Heirs' Property Act that, among other things, provides for a court to determine the value of an heir's property that is the subject of a partition action, to notify cotenants of the opportunity to buy out the interests of cotenants who request partition by sale, and to enforce partition alternatives under specified circumstances. The bill sets out considerations a court must make when determining if a partition in kind would result in substantial prejudice to cotenants and sets out the requirements applicable to a court-ordered sale of an heir's property, including that such a sale must be an open-market sale, a sale by sealed bids, or an auction.