Save the Family Farm Act
Missouri’s Save the Family Farm Act became law in 2019. It’s supposed to help keep family farms that are the subject of a partition lawsuit from being sold to non-family members. But the Save the Family Farm Act is not limited to farms. It applies to any partition lawsuit that involves family-owned real estate, rural or urban.
The Save the Family Farm Act
The Save the Family Farm Act allows family members to purchase the ownership interests of those wanting to partition the property by sheriff’s sale. Under one scenario, the judge determines the fair market value of the property and allows other owners to buyout those who want to sell. If they do not buyout the other owners, then the judge can appoint a real estate broker to offer the property for sale at its fair market value. Under yet another scenario, the judge must dismiss the lawsuit if none of the parties occupying the property had asked the court to partition the property by sale. But the judge must do so only if the property cannot be physically subdivided.
The Act is a cumbersome set of statutes that can affect a partition lawsuit involving family-owned real estate. Only time will tell if it achieves its purpose. In general, it seems likely to preserve both family property and family relations. However, the Act could fray family harmony if it forces the judge to dismiss the partition lawsuit, leaving those who filed it more than a little frustrated.
This article is for general informational purposes only. It is not intended as legal advice.
Sewell Law provides legal representation in real estate and business matters and in civil litigation. Please contact Michael Sewell at (314) 942-3232 or at michael@sewelllaw.net to discuss your legal matters.
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