Pennsylvania HB1498 establishes the Uniform Partition of Heirs Property Act, governing the partition of heirs property in the state.

HB1498, the Uniform Partition of Heirs Property Act, outlines procedures for the partition of real property held in tenancy in common, known as heirs property. The act mandates that courts determine the fair market value of such property and may order a sale or partition in kind. It requires mandatory settlement conferences, provides for cotenant buyouts, and sets rules for the allocation of interests among cotenants. The act also establishes procedures for the appointment of brokers for open-market sales and outlines the rights of cotenants to purchase shares of the property.

Pennsylvania HB1498 establishes the Uniform Partition of Heirs Property Act, governing the partition of heirs property in the state.

HB1498, the Uniform Partition of Heirs Property Act, outlines procedures for the partition of real property held in tenancy in common, known as heirs property. The act mandates that courts determine the fair market value of such property and may order a sale or partition in kind. It requires mandatory settlement conferences, provides for cotenant buyouts, and sets rules for the allocation of interests among cotenants. The act also establishes procedures for the appointment of brokers for open-market sales and outlines the rights of cotenants to purchase shares of the property.