The bill enacts the "Uniform Partition of Heirs' Property Act" as Chapter 15.1 of Title 34 of the General Laws, establishing a legal framework for partition actions involving heirs' property. Heirs' property is defined as real property held in tenancy in common that meets specific criteria, including the absence of a binding agreement among cotenants and the requirement that at least 20% of the interests are held by relatives.

The act outlines processes for partitioning heirs' property, including the determination of fair market value, which may be established through court-ordered appraisals or agreed valuations among cotenants. It mandates that when a cotenant requests partition, the court must notify all other cotenants and provide them the opportunity to buy out the interest of the cotenant wishing to sell.

The act specifies that sales of heirs' property should generally be conducted as open-market sales, with provisions for appointing a licensed real estate broker to manage the sale and report to the court on offers received. It also includes guidelines for the court to consider when deciding on partition methods, emphasizing fair treatment for all cotenants.

The provisions of this act will take effect on January 1, 2027, and it will apply to partition actions filed after that date, supplementing existing laws while replacing any inconsistent provisions.