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<section article="grp" article_name="Real Property" number="14-711" title_number="14" title_name="Miscellaneous Rules" subtitle_number="7" subtitle_name="Partition of Real Property">
  <level label="a">
    <text>If the court orders a sale of property, the sale shall be an open–market sale unless the court finds that a sale by sealed bids or an auction would be more economically advantageous and in the best interest of the cotenants as a group.</text>
  </level>
  <level label="b">
    <level label="1">
      <text>If the court orders an open–market sale and the parties, not later than 10 days after the entry of the order, agree on a real estate broker licensed in the State to offer the property for sale, the court shall appoint the broker and establish a reasonable commission.</text>
    </level>
    <level label="2">
      <text>If the parties do not agree on a broker, the court shall appoint a disinterested real estate broker licensed in the State to offer the property for sale and shall establish a reasonable commission.</text>
    </level>
    <level label="3">
      <text>A broker appointed under this subsection shall offer the property for sale in a commercially reasonable manner at a price not lower than the determination of value and on the terms and conditions established by the court.</text>
    </level>
  </level>
  <level label="c">
    <text>If the broker appointed under subsection (b) of this section obtains within a reasonable time an offer to purchase the property for at least the determination of value:</text>
    <level label="1">
      <text>The broker shall comply with the reporting requirements in § 14–712 of this subtitle; and</text>
    </level>
    <level label="2">
      <text>The sale may be completed in accordance with State law other than this subtitle.</text>
    </level>
  </level>
  <level label="d">
    <text>If the broker appointed under subsection (b) of this section does not obtain within a reasonable time an offer to purchase the property for at least the determination of value, the court, after hearing, may:</text>
    <level label="1">
      <text>Approve the highest outstanding offer, if any;</text>
    </level>
    <level label="2">
      <text>Redetermine the value of the property and order that the property continue to be offered for an additional time; or</text>
    </level>
    <level label="3">
      <text>Order that the property be sold by sealed bids or at an auction.</text>
    </level>
  </level>
  <level label="e">
    <text>If the court orders a sale by sealed bids or an auction, the court shall set terms and conditions of the sale.</text>
  </level>
  <level label="f">
    <text>If a purchaser is entitled to a share of the proceeds of the sale, the purchaser is also entitled to a credit against the price in an amount equal to the purchaser’s share of the proceeds.</text>
  </level>
</section>
