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STATE OF OKLAHOMA
2nd Session of the 59th Legislature (2024)
COMMITTEE SUBSTITUTE
FOR ENGROSSED
HOUSE BILL 3467 By: Moore of the House
and
Howard of the Senate
COMMITTEE SUBSTITUTE
An Act relating to partition; amending 12 O.S. 2021,
Section 1513, which relates to sale of property;
authorizing division of property for certain
purposes; requiring sealed bid auction for certain
property upon court order; establishing procedures
for sealed bid auction for certain property;
authorizing court to order sale of certain property
by public auction upon certain finding; establishing
procedures for certain a uction; authorizing certain
sale terms for certain property; establishing
procedures for court approval of certain sale;
requiring execution a nd delivery of deeds by sheriff
under certain circumstances ; defining term; updating
statutory language; and providing an effective date .
BE IT ENACTED BY THE PEOPLE OF THE STATE OF OKLAHOMA:
SECTION 1. AMENDATORY 12 O.S. 2021, Section 1513, is
amended to read as follows:
Section 1513. A. If none of the parties elect to take the
property at the valuation , or if several two or more of the parties
elect to take the same property at the valuation, in opposition to
each other, the court shall make an order directing the sale of the
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property. Upon agreement of all parties, the court may partition a
portion of the property in kind and order the balance of the
property to be partitioned by sale. If the court order direc ts the
sale due to two or more opposing parties electing to take the
property at the same valuation, the court shall h old a sealed bid
auction between or among the opposing parties. The court shall set
a date, not less than ten (10) days after the closing of the
election to take the property at valuation , by which the parties
shall submit a sealed bid to the court of their best and final offer
for the property, which shall be at least the appraised value set by
the commissioners. The court shall set a hea ring to open all sealed
bids, the property shall be sold to the party submitting the highest
bid and, upon the court’s final approval and confirmation of the
sale, the sheriff shall execute and deliver one or more sheriff’s
deed or deeds in accordance with the order of the court. Unless the
court orders a sale by public auction conducted by an auctioneer
pursuant to subsection B of this section, the court shall direct the
sheriff of the county to sell the same, property in the same manner
as in sales of real e state on execution; but no sale, whether by
sheriff or auctioneer , shall be made at less than two -thirds (2/3)
of the valuation placed upon the property by the commissioners.
B. Any property to be partitioned by sale may be sold at a
public auction conduc ted by an auctioneer in lieu of a sale by
sheriff. Upon the request of a party, the court may order a sale of
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the property at a public auction conducted by an auctioneer if the
court finds that such sale is likely to result in a higher aggregate
net price than a sale by sheriff us ing the procedures for sales of
real estate on execution. Any sale by an auctioneer pur suant to
this subsection shall be conducted in a manner consistent with the
auction procedures and sale terms approved by the court, which may
include provisions for :
1. Offering noncontiguous land as separate tracts;
2. Dividing any contiguous land into multiple tracts for
purposes of the auction; or
3. Selling multiple tracts separately or in one or more
combinations in a manner resulting i n the highest total price.
After the auction, any party may report the auction results to the
court and, upon the court’s final approval and confirmation of the
sale, the sheriff shall execute and deliver one or more sheriff ’s
deed or deeds in accordance with the order of the court.
C. For purposes of this section, “auctioneer” means an
individual or company that is licensed to sell real estate in th is
state and engaged in the business of selling real estate by public
auction.
SECTION 2. This act shall become effe ctive November 1, 2024.
59-2-3661 TEK 4/2/2024 3:20:17 PM