Illinois General Assembly - Bill Status for HB3677

Replaces everything after the enacting clause with the provisions of the introduced bill, and makes the following changes: Changes the definition of "heirs property" and "partition by sale". Defines "fair market value". Provides that if the court determines that the evidentiary value of an appraisal is outweighed by the cost of the appraisal, the court shall order the plaintiff to send notice (rather than the court shall send notice) to the parties of the fair market value of the property. Provides that if an appraisal is conducted, not later than 10 days after the appraisal is filed, the court shall order the plaintiff to send notice (rather than the court shall send notice) to each party with a known address. Provides that after a hearing to determine the fair market value of the property, the court shall order the plaintiff to send notice to all of the parties of the value and a cotenant's buyout rights (rather than the court shall send notice to the parties of the value). Provides that after the determination of the value, the court shall order the plaintiff to send notice (rather than the court shall send notice) to the parties that any cotenant may buy all the interests of the cotenants that requested partition by sale. Provides that after the expiration period, if no cotenant elects to buy all the interests of the cotenants that requested partition by sale, the court shall order the plaintiff to send notice (rather than the court shall send notice) to all the parties of that fact and resolve the partition. Provides that cotenants must pay their apportioned price to the clerk of court or as otherwise ordered by the court (rather than into the court). Provides that if one or more, but not all, of the electing cotenants fail to pay their apportioned price on time, the court shall order the plaintiff to give notice (rather than the court shall give notice) to the electing cotenants that paid their apportioned price of the interest remaining and the price for all that interest. Provides that the court, in determining whether partition in kind would result in manifest prejudice to the cotenants as a group, shall consider the tax consequences. Provides that if the court orders partition in kind, the court shall allocate to the cotenants that are unknown, unlocatable, or the subject of a default judgment, if their interests were not brought, a party of the property representing the combined interests of those cotenants as determined by the court. Provides that the court shall apportion the costs of the proceedings for the partition of heirs property among the parties in interest in the action, as the court deems just and equitable. Effective immediately.

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