{"data":{"id":"us-mt/70-29-414","jurisdiction":"us-mt","citation":"70-29-414","heading":"Open market sale -- sealed bids -- auction","body":". (1) If the court orders a sale of heirs property, the sale must be an open-market sale unless the court finds that a sale by sealed bids or an auction would be more economically advantageous and in the best interest of the cotenants as a group.\n(2) If the court orders an open-market sale and the parties, not later than 10 days after the entry of the order, agree on a real estate broker licensed in this state to offer the property for sale, the court shall appoint the broker and establish a reasonable commission. If the parties do not agree on a broker, the court shall appoint a disinterested real estate broker licensed in this state to offer the property for sale and shall establish a reasonable commission. The broker shall offer the property for sale in a commercially reasonable manner at a price no lower than the determination of value and on the terms and conditions established by the court.\n(3) If the broker appointed under subsection (2) obtains within a reasonable time an offer to purchase the property for at least the determination of value:\n(a) the broker shall comply with the reporting requirements in 70-29-415; and\n(b) the sale may be completed in accordance with state law other than this part.\n(4) If the broker appointed under subsection (2) does not obtain within a reasonable time an offer to purchase the property for at least the determination of value, the court, after hearing, may:\n(a) approve the highest outstanding offer, if any;\n(b) redetermine the value of the property and order that the property continue to be offered for an additional time; or\n(c) order that the property be sold by sealed bids or at an auction.\n(5) If the court orders a sale by sealed bids or an auction, the court shall set terms and conditions of the sale. If the court orders an auction, the auction must be conducted under 70-29-301.\n(6) If a purchaser is entitled to a share of the proceeds of the sale, the purchaser is entitled to a credit against the price in an amount equal to the purchaser's share of the proceeds.","path":["TITLE 70. PROPERTY","CHAPTER 29. PARTITION OF REAL PROPERTY","Part 4. Uniform Partition of Heirs Property Act"],"source_url":"https://mca.legmt.gov/bills/mca/title_0700/chapter_0290/part_0040/section_0140/0700-0290-0040-0140.html","current_through":"Montana Code Annotated 2025","vintage":"","retrieved_at":"2026-09-14T04:58:46Z","sha256":"c321b278fc03cc9f72820ee82e2fb2d171e72a03035f6167b11d6bc2e44137c1","source_id":"us-mt","stale":false,"prev":"us-mt/70-29-413","next":"us-mt/70-29-415"},"notice":"GroundRules: Original legal text. Not legal advice."}