Section 528.700

Title XXXVI STATUTORY ACTIONS AND TORTS

Chapter 528

Effective - 28 Aug 2019   

  528.700.  Citation of law — definitions. — 1.  The provisions of sections 528.700 to 528.750 shall be known and may be cited as the "Save the Family Farm Act".

  2.  For purposes of sections 528.700 to 528.750, the following terms and phrases shall mean:

  (1)  "Ascendant", an individual who precedes another individual in lineage, in the direct line of ascent from the other individual;

  (2)  "Collateral", an individual who is related to another individual under the law of intestate succession of this state but who is not the other individual's ascendant or descendant;

  (3)  "Descendant", an individual who follows another individual in lineage, in the direct line of descent from the other individual;

  (4)  "Determination of value", a court order determining the fair market value of heirs' property under section 528.720 or 528.740 or adopting the valuation of the property agreed to by all cotenants;

  (5)  "Heirs' property", real property held in tenancy in common that satisfies all of the following requirements as of the filing of a partition action:

  (a)  There is no agreement in a record binding all the cotenants that governs the partition of the property;

  (b)  One or more of the cotenants acquired title from a relative, whether living or deceased; and

  (c)  Any of the following applies:

  a.  Twenty percent or more of the interests are held by cotenants who are relatives;

  b.  Twenty percent or more of the interests are held by an individual who acquired title from a relative, whether living or deceased; or

  c.  Twenty percent or more of the cotenants are relatives;

  (6)  "Partition by sale", a court-ordered sale of the entire heirs' property, whether by auction, sealed bids, or open-market sale conducted under section 528.740;

  (7)  "Partition in kind", the division of heirs' property into physically distinct and separately titled parcels;

  (8)  "Record", information that is inscribed on a tangible medium or that is stored in an electronic or other medium and is retrievable in perceivable form;

  (9)  "Relative", an ascendant, descendant, or collateral or an individual otherwise related to another individual by blood, marriage, adoption, or law of this state other than the provisions of sections 528.700 to 528.750.

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(L. 2019 S.B. 83)