This text of New Jersey § 2A:56-51 (Partition by sale, written notice sent to parties, special master.) is published on Counsel Stack Legal Research, covering New Jersey primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
7.
a.If any cotenant requests partition by sale, after the determination of value under section 6 of this act, the party filing the partition action shall send written notice to the parties and the special master within 30 days that any cotenant, except a cotenant that requested partition by sale, may buy all of the interests of the cotenants that requested partition by sale.
b.Not later than 45 days after the written notice is sent under subsection a. of this section, any cotenant except a cotenant that requested partition by sale may give written notice to the parties and the special master that it elects to buy all of the interests of the cotenants that requested partition by sale.
c.The purchase price for each of the interests of a cotenant that requested partition by sale is the va
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7. a. If any cotenant requests partition by sale, after the determination of value under section 6 of this act, the party filing the partition action shall send written notice to the parties and the special master within 30 days that any cotenant, except a cotenant that requested partition by sale, may buy all of the interests of the cotenants that requested partition by sale. b. Not later than 45 days after the written notice is sent under subsection a. of this section, any cotenant except a cotenant that requested partition by sale may give written notice to the parties and the special master that it elects to buy all of the interests of the cotenants that requested partition by sale. c. The purchase price for each of the interests of a cotenant that requested partition by sale is the value of the entire parcel determined under section 6 of this act multiplied by the cotenant's fractional ownership of the entire parcel. d. After expiration of the buyout notice period set in subsection b. of this section, the following shall apply: (1) If only one cotenant elects to buy all the interests of the cotenants that requested partition by sale, the cotenant shall notify all the parties and the special master in writing of that fact. (2) If more than one cotenant elects to buy all the interests of the cotenants that requested partition by sale, the special master shall allocate the right to buy those interests among the electing cotenants based on each electing cotenant's existing fractional ownership of the entire parcel divided by the total existing fractional ownership of all cotenants electing to buy and send written notice to all the parties of that fact and of the price to be paid by each electing cotenant. (3) If no cotenant elects to buy all the interests of the cotenants that requested partition by sale, the special master with notice to the parties shall report in writing to the court. The court shall resolve the partition action, by order, in accordance with subsections a. and b. of section 8 of this act. e. If the parties under paragraph (1) or (2) of subsection d. of this section elect to buy all the interests, the cotenants shall be required to pay their apportioned price within 60 days to the Superior Court Trust Fund, in accordance with the procedures set forth in the Rules of Court. After this date, the following shall apply: (1) If all electing cotenants timely pay their apportioned price, the special master shall issue an order reallocating all the interests of the cotenants and authorizing the disbursement of the amounts held by the Superior Court Trust Fund, in accordance with the procedures set forth in the Rules of Court, to the persons entitled to them. (2) If no electing cotenant timely pays its apportioned price, the special master shall report to the court in writing with written notice to the parties. The court shall resolve the partition action, by order, under subsections a. and b. of section 8 of this act as if the interests of the cotenants that requested partition by sale were not purchased. (3) If one or more but not all of the electing cotenants fail to pay their apportioned price on time, the electing cotenants that paid their apportioned price of the interest may file a motion with the special master to determine the remaining interests and prices. f. Within 45 days following any order of the special master entered pursuant to paragraph (3) of subsection e. of this section, any cotenant that paid may elect to purchase all of the remaining interest by paying the entire price with notice to the special master. After this date, the following shall apply: (1) If only one cotenant pays the entire price for the remaining interests, the special master shall issue an order reallocating the remaining interest to that cotenant and requiring refund of any excess payments. (2) If no cotenant pays the entire price for the remaining interests, the special master shall report to the court in writing with written notice to the parties. The court shall resolve the partition action under subsection a. and b. of section 8 of this act as if the interests of the cotenants that requested partition by sale were not purchased. (3) If more than one cotenant pays the entire price for the remaining interests, the special master shall reapportion the remaining interests among those paying cotenants, based on each paying cotenant's original fractional ownership of the entire parcel divided by the total original fractional ownership of all cotenants that paid the entire price for the remaining interests. The special master shall report to the court in writing with written notice to the parties. The court shall issue an order reallocating all of the cotenants' interests and requiring refund of any excess payments. g. Not later than 30 days after notices have been sent pursuant to subsection a. of this section, any cotenant entitled to buy an interest under this section may request the special master to authorize the sale as part of the pending action of the interests of cotenants named as defendants and served with the complaint, but that did not appear in the action. h. If the special master receives a timely request under subsection g. of this section, the special master, after a hearing, may deny the request or authorize the requested additional sale on terms as the special master determines are fair and reasonable, subject to the following limitations: (1) A sale authorized under this subsection may occur only after the purchase prices for all interests subject to sale under subsections a. through f. of this section have been paid into the Superior Court Trust Fund and those interests have been reallocated among the cotenants as provided in those subsections. Any funds deposited into the Trust Fund pursuant to this section shall be distributed in accordance with the procedures set forth in the Rules of Court; and (2) The purchase price for the interest of a non-appearing cotenant is based on the special master's determination of value under section 6 of this act. L.2025, c.88, s.7.