
Professor Stewart Sterk was interviewed by NY1 regarding partition actions, which have been making news in NY in recent days. Owners are getting help getting fair value for their property through a new law being sponsored by State Senator Brad Hoylman. Hoylman is proposing the adoption of the Uniform Partition of Heirs Property Act. Under it, a holdout owner of a property would have the right to buy out an owner who's trying to partition it. If a sale cannot be avoided, it would have to occur on the open market, through a court-appointed broker, not through an auction. Professor Stew Sterk said about the new law in NY, "It's certainly a good thing for the heirs, and it's probably fair to the extent that they're now having the property taken from them at far less than what it's actual value might be."