Published: 2015-07-08
Key Benefits:
When the interests of all parties are undisputed or have been adjudicated, the parties may agree upon a partition by appraisal pursuant to this chapter.
(Added by Stats. 1976, Ch. 73.)
The agreement shall be in writing filed with the clerk of court and shall include:
(a) A description of the property.
(b) The names of the parties and their interests.
(c) The names of the parties who are willing to acquire the interests.
(d) The name or names of a person or persons to whose appointment as referee or referees the parties consent.
(e) The date or dates as of which the interests to be acquired are to be appraised.
(f) Other terms mutually agreed upon which may include, but are not limited to, provisions relating to abandonment of the action if the appraised value of the interest to be acquired exceeds a stated amount, required deposits on account of purchase price, terms of any credit, title and objections to title, and payment of the expenses of the procedure authorized by this chapter and of costs of the action.
(Added by Stats. 1976, Ch. 73.)
(a) Any party to the agreement may, upon noticed motion, apply to the court for approval of the agreement.
(b) If the court determines that the agreement complies with Section 873.920 and that the terms and conditions are equitable, it shall approve the agreement and stay any pending division or sale of the property.
(Added by Stats. 1976, Ch. 73.)
The court shall appoint one referee or, if provided in the agreement, three referees to appraise the property and the interests involved. The referee shall report the valuations and other findings to the court in writing filed with the clerk.
(Added by Stats. 1976, Ch. 73.)
Any party to the agreement or the referee, upon 10 days’ notice to the referee if the referee is not the moving party and to the other parties to the agreement, may move the court to confirm, modify, or set aside the report.
(Added by Stats. 1976, Ch. 73.)
At the hearing, the court shall examine the report and witnesses. If the court determines that the proceedings have been regularly conducted, that transfer of title to the interests may regularly be made, and that no facts appear which would make such transfer inequitable, it shall confirm the report and order the interests transferred to the acquiring parties in proportion to their respective interests, or in such other proportion as is set out in the agreement. The order shall be conditioned upon payment of the amounts fixed as the purchase price and any other amounts required by the agreement, the giving of any required security, and payment by the parties of the expenses of the procedure authorized by this chapter and of the general costs of the partition or an appropriate share thereof. Thereafter the court, upon motion of a party to the agreement or of the referee, made upon not less than 10 days’ notice to the parties who have appeared, shall determine whether the conditions have been fulfilled and, if so, shall enter judgment confirming the transfer; otherwise, upon such further proceedings as may be ordered, the action or proceeding shall be ordered terminated.
(Added by Stats. 1976, Ch. 73.)
The agreement binds the heirs, executors, administrators, successors, and assigns of the parties. In the event of default, the aggrieved parties may specifically enforce the agreement by further proceedings in the action or may pursue any other remedy they may have at law or in equity.
(Added by Stats. 1976, Ch. 73.)
The provisions of this chapter are cumulative and if, for default or other cause, interests are not transferred and acquired pursuant to this chapter, the parties may pursue their other rights of partition, subject to Section 873.970.
(Added by Stats. 1976, Ch. 73.)