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2018 SESSION

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18106740D
SENATE BILL NO. 774 AMENDMENT IN THE NATURE OF A SUBSTITUTE (Proposed by the Senate Committee for Courts of Justice on February 7, 2018) (Patron Prior to Substitute--Senator Chafin) A BILL to amend and reenact § 8.01-83 of the Code of Virginia, relating to partition; election to purchase.

Be it enacted by the General Assembly of Virginia:

1. That § 8.01-83 of the Code of Virginia is amended and reenacted as follows:

§ 8.01-83. Allotment to one or more parties, or sale, in lieu of partition.

When partition cannot be conveniently made, the property may be transferred, sold, or allotted in the following manner:

1. One or more of the defendants in the suit for partition may elect to purchase the property at such sum of money as equals the total amount of interest in the property. Such defendant or group of defendants shall file for election to purchase the property within 60 days of the filing of the suit for partition. An election pursuant to this subdivision shall be irrevocable.

2. If no defendant elects to purchase the property pursuant to subdivision 1, then the entire subject may be allotted to any one or more of the parties who will accept it and pay therefor to the other parties such sums of money as their interest therein may entitle them to; or in any case in which partition cannot be conveniently made, if.

3. If no defendant elects to purchase the property pursuant to subdivision 1 and the property is not allotted pursuant to subdivision 2, then, if the interest of those who are entitled to the subject, or its proceeds, will be promoted by a sale of the entire subject, or allotment of part and sale of the residue, the court, notwithstanding any of those entitled may be a person under a disability, may order such sale, or an allotment of a part thereof to any one or more of the parties who will accept it and pay therefor to the other parties such sums of money as their interest therein may entitle them to, and a sale of the residue, and make distribution of the proceeds of sale, according to the respective rights of those entitled, taking care, when there are creditors of any deceased person who was a tenant in common, joint tenant, or coparcener, to have the proceeds of such deceased person's part applied according to the rights of such creditors.