§668A-8 Cotenant buyout. (a) If any cotenant requested partition by sale, after the determination of value under section 668A-7, the special master shall send notice to the parties that any cotenant except a cotenant that requested partition by sale may buy the interest of any cotenant that requested partition by sale.
(b) Not later than forty-five days after the notice is sent under subsection (a), any cotenant except a cotenant that requested partition by sale may give notice to the court that it elects to buy all the interests of the cotenants that requested partition by sale.
(c) The purchase price for each of the interests of a cotenant that requested partition by sale is the value of the entire parcel determined under section 668A-7 multiplied by that cotenant's fractional ownership of the entire parcel.
(d) After expiration of the period in subsection (b), the following rules shall apply:
(e) If the special master sends notice to the parties under subsection (d)(1) or (2), the court shall set a date, not earlier than sixty days after the date the notice was sent, by which electing cotenants must pay their apportioned price into the court. After the deadline for payment set by the court, the following rules shall apply:
(f) No later than twenty days after the special master gives the notice pursuant to subsection (e)(3), any cotenant that paid may elect to purchase the remaining interest by paying the entire price to the court. After the twenty-day period, the following rules shall apply:
(g) No later than forty-five days after the special master sends notice to the parties pursuant to subsection (a), any cotenant entitled to buy an interest under this section may request the court to authorize the sale of the interests of cotenants named as defendants and served with the complaint but that did not appear in the action as part of the pending action.
(h) If the court receives a timely request under subsection (g), the court, after hearing, may deny the request or authorize the requested additional sale on such terms as the court determines are fair and reasonable, subject to the following limitations:
(i) The cotenant requesting partition by sale shall be liable for reasonable court fees. [L 2016, c 260, pt of §1; am L 2017, c 12, §75]