Louisiana SB 126: FAMILY LAW: Provides for the definition of realtor in partition of community property. (8/1/24)

Bill Text

SLS 24RS-362 ORIGINAL
2024 Regular Session
SENATE BILL NO. 126
BY SENATOR OWEN
FAMILY LAW. Provides for the definition of realtor in partition of community property.
(8/1/24)
1 AN ACT
2 To amend and reenact R.S. 9:2801(A)(4)(e), relative to community property; to provide
3 relative to settlement claims in partition of community property; to provide relative
4 to terms and definitions; to provide with respect to the term "realtor" in partition of
5 community property; and to provide for related matters.
6 Be it enacted by the Legislature of Louisiana:
7 Section 1. R.S. 9:2801(A)(4)(e) is hereby amended and reenacted to read as follows:
8 §2801. Partition of community property and settlement of claims arising from
9 matrimonial regimes and co-ownership of former community
10 property
11 A. When the spouses are unable to agree on a partition of community
12 property or on the settlement of the claims between the spouses arising either from
13 the matrimonial regime, or from the co-ownership of former community property
14 following termination of the matrimonial regime, either spouse, as an incident of the
15 action that would result in a termination of the matrimonial regime or upon
16 termination of the matrimonial regime or thereafter, may institute a proceeding,
17 which shall be conducted in accordance with the following rules:
Page 1 of 2
Coding: Words which are struck through are deletions from existing law;
words in boldface type and underscored are additions.

SB NO. 126
SLS 24RS-362 ORIGINAL
1 * * *
2 (4) The court shall then partition the community in accordance with the
3 following rules:
4 * * *
5 (e) In the event that the allocation of an asset, in whole or in part, would be
6 inequitable to a party, the court may order the parties to draw lots for the asset or
7 may order the private sale of the asset on such terms and conditions as the court
8 deems proper, including the minimum price, the terms of sale, the execution of
9 realtor listing agreements with agents defined by R.S. 37:1431, and the period of
10 time during which the asset shall be offered for private sale.
11 * * *
The original instrument and the following digest, which constitutes no part
of the legislative instrument, were prepared by Hanna Gettys.
DIGEST
SB 126 Original 2024 Regular Session Owen
Present law (R.S. 9:2801) provides a process by which former spouses who are unable to
agree on a partition of community property or on the settlement of the claims between the
spouses arising either from the matrimonial regime or co-ownership of former community
property may institute a proceeding to have the court partition the community property in
accordance with specific rules provided in present law.
Proposed law retains present law.
Present law provides that if the allocation of an asset, in whole or in part, would be
inequitable to a party, the court may order the private sale of the asset on such terms and
conditions as the court deems proper, including but not limited to the execution of realtor
listing agreements.
Proposed law retains present law but clarifies that the term "realtor" means "agents" as
defined by present law (R.S. 37:1431).
Effective August 1, 2024.
(Amends R.S. 9:2801(A)(4)(e))
Page 2 of 2
Coding: Words which are struck through are deletions from existing law;
words in boldface type and underscored are additions.