The Uniform Partition of Heirs Property Act establishes a comprehensive framework for partition actions in New Jersey courts concerning real property owned by multiple parties, particularly when at least one owner has inherited their interest. The act defines "heirs property" as real property held in tenancy in common without a binding agreement among cotenants and mandates that if the property is classified as heirs property, the court must appoint a special master to oversee the partition process. This includes the potential appointment of commissioners and conducting appraisals to determine the property's fair market value.

Furthermore, the act outlines specific procedures for both partition by sale and partition in kind, ensuring transparency and fairness throughout the valuation and sale processes. It requires notice to cotenants and the appointment of a disinterested real estate appraiser to assess fair market value. The court is given the authority to order a partition in kind or by sale, considering the interests of all parties involved. This legislation aims to provide equitable protections for cotenants of heirs property, ensuring that disputes are resolved in a structured manner that respects familial ownership dynamics. The act will take effect 30 days after enactment and will apply to partition actions filed thereafter.