Louisiana 2014 2014 Regular Session

Louisiana Senate Bill SB39 Comm Sub / Analysis

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DIGEST
The digest printed below was prepared by House Legislative Services. It constitutes no part
of the legislative instrument. The keyword, one-liner, abstract, and digest do not constitute
part of the law or proof or indicia of legislative intent.  [R.S. 1:13(B) and 24:177(E)]
DIGEST
Murray (SB 39)
Present law, relative to partition of immovable property, provides that if immovable property
is susceptible of partition by licitation or private sale and a co-owner or co-owners owning
an aggregate interest of 15% or less of the immovable property petition the court to partition
the property, the court shall allow the remaining co-owners to purchase at private sale the
petitioners' shares at a price determined by a court-appointed appraiser.
Proposed law provides that if immovable property is susceptible to partition by licitation or
private sale, and a petition to partition the property is filed by a co-owner or co-owners
owning either an aggregate interest of 15% or less of the immovable property or an
aggregate interest of 20% or less of the immovable property if there was past ownership of
the whole by a common ascendant, the court shall allow the remaining co-owners to
purchase at private sale the petitioners' shares at a price determined by a court-appointed
appraiser.
Present law provides that each remaining co-owner shall only be entitled to purchase a
portion of the property being sold equal to his pro rata share. Each remaining co-owner shall
have 30 days from the date the last defendant is served with the petition to partition or 30
days from receipt of written notice, sent by certified mail or commercial courier, from a co-
owner waiving his right to purchase, whichever is earlier, in which to file a notice to exercise
his option to purchase his pro rata share of the property being sold.
Proposed law adds that where past ownership of the property was by a common ascendant,
each remaining co-owner shall have 90 rather than 30 days to file such notice.
Effective upon signature of governor or lapse of time for gubernatorial action.
(Amends R.S. 9:1113)
Summary of Amendments Adopted by Senate
Senate Floor Amendments to engrossed bill
1. Clarifies the time limits within which a co-owner has to exercise his option
to purchase the property.
Summary of Amendments Adopted by House
Committee Amendments Proposed by House Committee on Civil Law and Procedure
to the reengrossed bill.
1. Added a technical change.