The proposed bill introduces a new chapter titled "Uniform Partition of Heirs Property Act" to Title 20 of the Pennsylvania Consolidated Statutes, establishing a structured framework for the partition of heirs property held in tenancy in common without a binding agreement among cotenants. Key provisions include a right of first refusal for cotenants when a bona fide offer is made by non-cotenants, mandatory settlement conferences to promote resolution prior to court action, and procedures for determining fair market value through court-ordered appraisals. The bill also outlines various partition alternatives, such as partition by sale and partition in kind, while emphasizing good faith negotiations and ensuring a fair and equitable process overseen by the court.

Additionally, the bill details the process for notifying parties involved in a partition action and outlines the steps the court must take if cotenants choose to buy out the interests of others. It specifies payment procedures, deadlines for electing cotenants, and consequences for timely or untimely payments. The court is tasked with evaluating whether to order partition in kind or by sale, considering potential prejudice to cotenants and overall fairness. Sales of heirs' property must be conducted as open-market sales unless otherwise beneficial, and brokers are required to report on the sale process. The legislation aims to streamline the partition process while safeguarding the rights and interests of cotenants, ensuring uniform application across states.