An Act amending Title 20 (Decedents, Estates and Fiduciaries) of the Pennsylvania Consolidated Statutes, providing for uniform partition of heirs property and for uniform real property transfer on death.
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Progress
Where this bill stands in the legislative process.
- Introduced
- Passed Senate
- Passed House
- To Governor
- Became Law
Overview
This bill amends Pennsylvania’s laws to create a more uniform process for dividing property held by multiple heirs (known as ‘heirs property’) and for transferring real estate upon death. It establishes guidelines for how such property is partitioned, including options for sale, auction, or in-kind division. The bill also introduces a ‘cotenant buyout’ process, where individual heirs can purchase shares from others, and mandates a settlement conference to encourage negotiations before a court hearing.
Key provisions
- Establishes a legal framework for ‘heirs property’ – real estate held by multiple relatives without a clear agreement on division.
- Requires a ‘cotenant buyout’ process, allowing individual heirs to purchase shares from others.
- Mandates a settlement conference before court proceedings to encourage negotiation and agreement.
- Outlines options for partitioning heirs property: sale, auction, or in-kind division.
- Defines key terms like ‘ascendant,’ ‘collateral,’ ‘cotenant,’ and ‘determination of value’ to ensure consistent interpretation.
- Specifies requirements for open-market sales, including the appointment of a real estate broker.
- Addresses the process for determining fair market value, including appraisal and court determination.
- Includes provisions for handling situations where no offers are received for sale and for allocating interests when multiple cotenants purchase shares.
Who is affected
Bill text
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Document of record
- Version
- Pn 1018 Html
- Published
- Not published in the source record
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Sponsors
Official sponsors from legislative records.
2 on record
Primary sponsor
Cosponsor
Patrick Stefano
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