Partition of Real and Personal PropertyPartition by Appraisal
Section § 873.910
If everyone involved in a property dispute is in agreement or a judge has already made a decision, they can choose to divide the property using a method called partition by appraisal.
Section § 873.920
This section describes the requirements for an agreement related to acquiring property interests, which must be in writing and filed with the court clerk. It needs to include details like a property description, the involved parties and their interests, those interested in acquiring these interests, and any agreed-upon referee for appraisals. The agreement should also specify appraisal dates and any other terms agreed upon by the parties, such as what happens if certain financial conditions are met or exceeded, deposits, credit terms, and who covers the costs of the procedure and legal action.
Section § 873.930
If you’re part of an agreement involving property, you can ask the court to approve it by notifying everyone involved. If the court finds that the agreement is fair and meets certain rules, it will approve it and pause any ongoing efforts to divide or sell the property.
Section § 873.940
This law section states that a court needs to appoint a referee, or three referees if stated in an agreement, to determine the value of a property and any interests involved. The referee(s) must then provide a written report with these valuations to the court clerk.
Section § 873.950
This law allows any party involved in an agreement or the referee to request a court decision to either approve, change, or reject a referee's report. They must provide at least 10 days' notice to the referee (if they're not the one making the request) and to other parties involved.
Section § 873.960
This law outlines the process that happens at a court hearing about property transfers. The court will review a report and hear witnesses to see if everything was done correctly. If so, the court will approve the transfer of property shares according to each person's interest or any special agreement. For the transfer to be finalized, parties must pay set amounts, provide any needed security, and cover various expenses. If these conditions are met, the court will officially confirm the transfer. If not, the process could be stopped or need further action.
Section § 873.970
This section states that if parties make an agreement, it applies not just to them but also to their heirs and anyone who takes over their legal responsibilities. If someone doesn't follow through on the agreement, the affected parties can push for the agreement to be enforced through legal action or explore other legal options available.
Section § 873.980
This law says that the rules in this chapter add to other legal rights, meaning if people can't divide or transfer property as planned here, they can still use other partition rights. However, they must follow the rules in Section 873.970 when doing so.