Murray (SB 39) Act No. 279
Prior law, relative to partition of immovable property, provided 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.
New 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.
Prior law provided 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. New 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 (May 28, 2014).
(Amends R.S. 9:1113)