Notwithstanding any other provision of law, if the court determines property subject to a partition action under section 32-16-01 is held by two or more cotenants in which one or more cotenants have an estate of inheritance, and a sale of the property is requested by one or more cotenant or is required to avoid an inequitable partition, the court shall appoint a referee to obtain an appraisal to determine the fair market value of the property. Upon the determination of the fair market value of the property, the court shall notify all parties to the partition action of the determination and amount of the appraisal. Upon receipt of the appraisal, a cotenant may purchase all interests of cotenants requesting a sale of the property, at the appraised fair market value of the selling cotenant’s fractional interest in the property. If more than one cotenant offers to purchase the interests of the cotenants requesting a sale of the property, the court shall equitably allocate the interests among the purchasing cotenants.