Art. 4626.1.Judgment Ordering Reimbursement Or Payment of Amounts Due Co-Owner and Payment and Allocation of Costs of Private Sale Out of Proceeds of Sale

A private sale carries costs a public auction by the sheriff does not: real estate commissions, brokerage fees, appraisal costs, and the other closing costs that come with selling property on the open market rather than at a courthouse auction. Article 4626.1 makes sure the judgment ordering a private sale addresses all of it.

The article starts with the same two reimbursement items Article 4626 requires for a public sale: reimbursement to a co-owner for proven tax payments and preservation expenses, and payment to a co-owner for proven amounts due from another co-owner who kept the property's fruits and revenues.

It then adds what a private sale needs that a public sale does not. The judgment has to order payment of the reasonable costs tied to the sale, including real estate commissions, brokerage fees, appraisal costs, payments to release encumbrances, and other customary closing costs, and it has to allocate those costs among one or more of the co-owners. Before doing so, the court has to consider whether any of those sale-related costs will go to someone related to a co-owner within the fourth degree, or to a juridical entity in which a co-owner holds a financial interest, echoing the same insider-dealing safeguard the petition itself has to address under Article 4622.