70-29-415 . Report of open-market sale. (1) Unless required to do so within a shorter time by any other law of this state, a broker appointed under 70-29-412 (2) to offer heirs property for open-market sale shall file a report with the court not later than 7 days after receiving an offer to purchase the property for at least the value determined under 70-29-410 or 70-29-414 . (2) The report required by subsection (1) must contain the following information: (a) a description of the property to be sold to each buyer; (b) the name of each buyer; (c) the proposed purchase price; (d) the terms and conditions of the proposed sale, including the terms of any owner financing; (e) the amounts to be paid to lienholders; (f) a statement of contractual or other arrangements or conditions of the broker's commission; and (g) other material facts relevant to the sale.
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