Partition of property; in partition actions the court shall order an appraisal of property. (SB553)

Introduced By

Sen. Frank Ruff (R-Clarksville) with support from co-patron Sen. Jennifer McClellan (D-Richmond)

Progress

Introduced
Passed Committee
Passed House
Passed Senate
Signed by Governor
Became Law

Description

Partition of property. Incorporates major provisions of the Uniform Partition of Heirs Property Act. The bill provides that in partition actions the court shall order an appraisal to determine fair market value of the property, unless the parties have agreed to the value of the property or to another valuation method. The bill also provides factors to be considered by the court when making an allotment of the property when there is a dispute among the parties. The bill further provides that if the court orders a sale of property in a partition action, the sale shall be conducted on the open market, unless the court finds that a sale by sealed bids or at auction would be more economically advantageous to the parties as a group. The bill outlines the procedure for such open-market sale. This bill is identical to HB 1605. Read the Bill »

Outcome

Bill Has Passed

History

DateAction
01/07/2020Referred to Committee for Courts of Justice
01/07/2020Prefiled and ordered printed; offered 01/08/20 20103964D
01/07/2020Referred to Committee on the Judiciary
01/29/2020Reported from Judiciary with substitute (14-Y 0-N) (see vote tally)
01/29/2020Committee substitute printed 20106043D-S1
01/31/2020Constitutional reading dispensed (37-Y 0-N) (see vote tally)
02/03/2020Read second time
02/03/2020Reading of substitute waived
02/03/2020Committee substitute agreed to 20106043D-S1
02/03/2020Engrossed by Senate - committee substitute SB553S1
02/04/2020Read third time and passed Senate (40-Y 0-N) (see vote tally)
02/12/2020Placed on Calendar
02/12/2020Read first time
02/12/2020Referred to Committee for Courts of Justice
02/14/2020Reported from Courts of Justice (22-Y 0-N) (see vote tally)
02/18/2020Read second time
02/19/2020Read third time
02/19/2020Passed House BLOCK VOTE (100-Y 0-N)
02/19/2020VOTE: (100-Y 0-N) (see vote tally)
02/24/2020Enrolled
02/24/2020Bill text as passed Senate and House (SB553ER)
02/24/2020Signed by Speaker
02/25/2020Signed by President
02/28/2020Enrolled Bill Communicated to Governor on February 28, 2020
02/28/2020G Governor's Action Deadline 11:59 p.m., March 6, 2020
03/06/2020G Approved by Governor-Chapter 193 (effective 7/1/20)
03/06/2020G Acts of Assembly Chapter text (CHAP0193)