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House Bill 1309 -First Edition Page 1 of 2 <br /> GENERAL ASSEMBLY OF NORTH CAROLINA <br /> SESSION 2005 <br /> H 1 <br /> HOUSE BILL 1309 <br /> Short Title : Refusal Rights -Forced Public Partition Sales . (Public) <br /> Sponsors : Representatives Michaux ; L . Allen and Faison . <br /> Referred to : Judiciary II . <br /> April 20 , 2005 <br /> A BILL TO BE ENTITLED <br /> AN ACT TO OFFER COTENANTS THE RIGHT OF FIRST REFUSAL PRIOR TO A <br /> FORCED PUBLIC PARTITION SALE . <br /> The General Assembly of North Carolina enacts : <br /> SECTION 1 . Chapter 46 of the General Statutes is amended by adding a new section <br /> to read . <br /> 146 -22 . 1 . Sale of cotenant ' s interest in lieu of sale by partition . <br /> Oa Upon the filing of a petition for -partition of real property owned by ioint tenants or <br /> tenants in common , the court shall provide for the purchase of the interests of the Joint tenants or <br /> tenants in common seeking the sale of the property described in the petition pursuant to <br /> G S 46 - 22 to the nonpetitioning joint tenants or tenants in common . Provided that the <br /> nonpetitioning joint tenants or tenants in common interested in purchasing such interests shall <br /> notify the court of that interest not later than 10 days prior to the date set for trial of the case and <br /> shall be allowed to purchase whether default has been entered against them or not . <br /> In the circumstances described in subsection ( a) of this section , and in the event the <br /> parties cannot reach agreement as to the price , the value of the interest or interests to be sold <br /> shall be determined by one or more competent real estate appraisers or commissioners , as the <br /> court shall approve , appointed for that purpose by the court . The appraisers or commissioners <br /> appointed under this section shall make their report in writing to the court within 30 days after <br /> their appointment . <br /> 0 After the filing of the appraisers ' or commissioners ' report with the court , the <br /> nonpetitioning�joint tenants or tenants in common seeking to purchase the interests of those <br /> filing the petition shall have 45 days to pay into the court the price set as the value of those <br /> interests to be purchased Upon the payment and apptoval of it by the court, the clerk shall <br /> execute and deliver or cause to be executed and delivered the proper instruments transferring <br /> title to the purchasers . <br /> O Should the nonpetitionina joint tenants or tenants in common fail to pay the purchase <br /> price as provided in subsection ( c) of this section the court shall proceed accordingto o its <br /> traditional practices in partition sales as described in G . S . 46 - 22 . <br /> O Should the petitionin4i oint tenants or tenants in common object to the value of the <br /> http : //www . ncga. state . ne . us/Sessions/2005Bills /House/HTML/Hl309vl . html 6/ 13 /2005 <br />