Sec. 52-503p. Report of open-market sale.

(a) A real estate broker appointed under subsection (b) of section 52-503o to offer heirs' property for open-market sale shall file a report with the court not later than seven days after the date of receiving an offer to purchase the property for at least the value determined under section 52-503k or 52-503o.

(b) The report required by subsection (a) of this section shall contain the following information:

(1) A description of the property to be sold to each buyer;

(2) The name of each buyer;

(3) The proposed purchase price;

(4) The terms and conditions of the proposed sale, including the terms of any owner financing;

(5) The amounts to be paid to lienholders;

(6) A statement of contractual or other arrangements or conditions of the broker's commission; and

(7) Other material facts relevant to the sale.

(P.A. 15-234, S. 11.)