§ 874.321.Broker Shall File Report With the Court; Contents
Title 10.5. Partition of Real and Personal Property · Chapter 10. Partition of Real Property Act · Last amended 2023 · Last verified July 28, 2026
Full Text of § 874.321
Plain-English Summary
The oversight § 874.320(c) requires before a broker's sale closes runs through this section's reporting rule. Once the broker receives an offer to purchase the property for at least the determined value, subdivision (a) gives the broker seven days to file a report with the court.
That report has to cover the essentials: a description of the property being sold to each buyer, the buyer's name, the proposed purchase price, the terms and conditions of the proposed sale, including any owner financing, the amounts to be paid to lienholders, a statement of the broker's commission arrangement, and any other material facts relevant to the sale. That level of disclosure gives the court, and the cotenants, a real chance to review the deal before it closes.
Frequently Asked Questions
How soon must the broker report a qualifying offer to the court?
What has to be in that report?
A description of the property, the buyer's name, the proposed price and terms (including any owner financing), amounts owed to lienholders, the broker's commission arrangement, and any other material facts relevant to the sale.
Amendment History
Amended by Stats 2022 ch 82 (AB 2245),s 10, eff. 1/1/2023. Added by Stats 2021 ch 119 (AB 633),s 2, eff. 1/1/2022.