HB2802 H ENG AM #1

Akers 3254

The Committee on Energy moves to amend the bill, on page nine, section ten, beginning on line one, by striking subsections (a) and (b) in their entirety and inserting in leu thereof the following:

“(a) If the court orders a sale of heirs property, the court shall first ascertain which cotenants are relatives, as defined by this article, and after notice to all cotenants, if a relative vested with an interest in the property desires to purchase the whole of the heirs property, the court shall conduct a private auction for the whole of the heirs property among all the relatives vested with an interest, but with a reserve price equal to the court determined fair market value established under §37-16-6 of this code.

(b) If one or more relatives vested with an interest do not purchase the whole of the heirs property in the court supervised private auction, the court shall then sell the heirs property by an open-market sale, unless the court finds that a sale by sealed bids or a public auction would be more economically advantageous and in the best interest of the cotenants as a group.”

Adopted

Rejected