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