(A) Unless required otherwise to do so within a shorter time, a broker appointed under Section 15-61-400, to offer heirs' property for open-market sale shall file a report with the court not later than ten days after receiving an offer to purchase the property for at least the value determined pursuant to Section 15-61-360 or 15-61-400.
(B) The report required by subsection (A) must contain the following information:
(1) a description of the property to be sold to each buyer;
(2) the name of each buyer;
(3) the proposed purchase price;
(4) the terms and conditions of the proposed sale, including the terms of any owner financing;
(5) the amounts to be paid to lienholders;
(6) a statement of contractual or other arrangements or conditions of the broker's commission; and
(7) other material facts relevant to the sale.
HISTORY: 2016 Act No. 153 (H.3325), Section 1, eff January 1, 2017.
Editor's Note
2016 Act No. 153, Section 6, provides as follows:
"SECTION 6. This act takes effect on January 1, 2017, and applies to partition actions filed on or after that date."
Structure South Carolina Code of Laws
Title 15 - Civil Remedies and Procedures
Section 15-61-11. Waiver of partition of land which is site of electric generating plant.
Section 15-61-20. Only parties to proceeding are affected by partition.
Section 15-61-30. State as owner of escheated interest is not necessary party.
Section 15-61-40. Validation of certain titles.
Section 15-61-50. Jurisdiction to partition in kind or by sale.
Section 15-61-100. Sale may be ordered without writ upon testimony taken.
Section 15-61-110. Attorneys' fees.
Section 15-61-310. Short title.
Section 15-61-320. Definitions.
Section 15-61-340. Service of pleading; notice by publication.
Section 15-61-350. Sale may be ordered without writ upon testimony taken.
Section 15-61-360. Determination of value of property.
Section 15-61-370. Cotenant requesting partition by sale.
Section 15-61-380. Partition in kind or by allotment.
Section 15-61-390. Determination of manifest prejudice or injury to cotenants as a group.
Section 15-61-400. Sale of heirs' property; open-market sale; sale by sealed bids.
Section 15-61-410. Report of broker appointed to offer heirs' property for open-market sale.