Sec. 381. PARTITION AND DISTRIBUTION WHEN PROPERTY OF AN ESTATE IS INCAPABLE OF DIVISION    


Latest version.
  • (a) Finding by the Court. When, in the opinion of the court, the whole or any portion of an estate is not capable of a fair and equal partition and distribution, the court shall make a special finding in writing, specifying therein the property incapable of division.

    (b) Order of Sale. When the court has found that the whole or any portion of the estate is not capable of fair and equal division, it shall order a sale of all property which it has found not to be capable of such division. Such sale shall be made by the executor or administrator in the same manner as when sales of real estate are made for the purpose of satisfying debts of the estate, and the proceeds of such sale, when collected, shall be distributed by the court among those entitled thereto.

    (c) Purchase by Distributee. At such sale, if any distributee shall buy any of the property, he shall be required to pay or secure only such amount of his bid as exceeds the amount of his share of such property.

    (d) Applicability of Provisions Relating to Sales of Real Estate. The provisions of this Code relative to reports of sales of real estate, the giving of an increased general or additional bond upon sales of real estate, and to the vesting of title to the property sold by decree or by deed, shall also apply to sales made under this Section.

Acts 1955, 54th Leg., p. 88, ch. 55, eff. Jan. 1, 1956.