Texas Property Code
§ 23A.007 — COTENANT BUYOUT
PR § 23A.007Title 4. ACTIONS AND REMEDIES · Ch. 23A. UNIFORM PARTITION OF HEIRS' PROPERTY ACT
Statute text
View on source(a)If any cotenant requested partition by sale, after the determination of value under Section 23A.006, the court shall send notice to the parties that any cotenant except a cotenant that requested partition by sale may buy all the interests of the cotenants that requested partition by sale.
(b)Not later than the 45th day after the date notice is sent under Subsection (a), any cotenant except a cotenant that requested partition by sale may give notice to the court that the cotenant elects to buy all the interests of the cotenants that requested partition by sale.
(c)The purchase price for each of the interests of a cotenant that requested partition by sale is the value of the entire parcel determined under Section 23A.006 multiplied by the cotenant's fractional ownership of the entire parcel.
(d)After the period provided by Subsection (b) expires:
(1)if only one cotenant elects to buy all the interests of the cotenants that requested partition by sale, the court shall notify all the parties of that fact;
(2)if more than one cotenant elects to buy all the interests of the cotenants that requested partition by sale, the court shall:
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Legislative history
Added by Acts 2017, 85th Leg., R.S., Ch. 297 (S.B. 499), Sec. 1, eff. September 1, 2017.