In this video, Landowner Rights Attorney Philip Hundl describes the co-tenant buyout in a heirs property partition case in Texas. Call 800-266-4870 or text 979-320-9320 to meet with Philip.
His law practice is Land Rights Law, PLLC, located in Wharton County. You can meet with Philip in person, by phone or online, and he helps landowners all over Texas.
Summary of the Heirs Property Partition Co-Tenant Buyout Video
Hi, I’m Philip Hundl. My law practice in Texas focuses on representing landowners in land partition matters and those facing condemnation under eminent domain. Today, I’m discussing heirs’ property partitions, specifically Section 23A, and we’re at the part concerning Section 23A.007, which deals with the co-tenant buyout.
Anyone interested in this topic should consult an attorney who will read and explain this section to you. The process is very methodical, but I will provide a brief overview of what Section 23A.007 entails.
The Co-Tenant Buyout Process
After the court appoints an appraiser and determines the fair market value of the property, there may be a co-tenant who requests to sell their share. At this point, there is an option for other co-tenants to buy out the selling co-tenant’s share at a pro rata portion of the appraised value unless the court has determined that offsets or credits are necessary.
This process does not require co-tenants to sell if they do not wish to. If they prefer a partition in kind, they can choose that option.
The Next Step in the Process
Once the steps involved in the co-tenant buyout are completed, and it’s crucial to refer to the specific sections for timing and notices to all co-tenants, you can move on to what is essentially the first trial in a normal Chapter 23 non-heirs proceeding. At this point, the court will determine if the land can be partitioned in kind and identify any changes in ownership interests as a result of any co-tenant buyouts.
Additionally, the court will consider factors outlined in Section 23A.009, which include the involvement and connection of individuals to the property.
I hope this information is helpful. Heirs’ property partitions involve additional steps beyond standard partitions, so it’s important to be aware of these steps and set timelines to keep the case on track. Without such measures, the case can become bogged down due to the numerous steps involved. Good luck.
Get the Help You Need
The heirs property partition process is complex. You need the help of an experienced partition lawyer to safeguard your rights as a Texas landowner during this process. Call us at 800-266-4870 or text our office at 979-320-9320 to meet with Philip Hundl. He can meet with you in person, online or by phone. Our offices are in El Campo, in Wharton County.
