70-29-415: Report of open-market sale.

(1) Unless required to do so within a shorter time by any other law of this state, a broker appointed under 70-29-412(2) to offer heirs property for open-market sale shall file a report with the court not later than 7 days after receiving an offer to purchase the property for at least the value determined under 70-29-410 or 70-29-414.

(2) The report required by subsection (1) must contain the following information:

(a) a description of the property to be sold to each buyer;

(b) the name of each buyer;

(c) the proposed purchase price;

(d) the terms and conditions of the proposed sale, including the terms of any owner financing;

(e) the amounts to be paid to lienholders;

(f) a statement of contractual or other arrangements or conditions of the broker's commission; and

(g) other material facts relevant to the sale.