California Public Resources Code 5096.514 – Not more than 10 working days after the close of escrow for a major …
Not more than 10 working days after the close of escrow for a major acquisition of conservation land by an acquisition agency, the acquisition agency shall make available to the public all of the following information, unless it is exempt from being disclosed pursuant to the California Public Records Act (Chapter 3.5 (commencing with Section 6250) of Division 7 of Title 1 of the Government Code):
(a) A copy of the appraisal for the conservation land approved by the Department of General Services, and from which fair market value was determined.
Terms Used In California Public Resources Code 5096.514
- Appraisal: A determination of property value.
- department: means the Department of Parks and Recreation and "director" means the Director of Parks and Recreation. See California Public Resources Code 5001.1
- Escrow: Money given to a third party to be held for payment until certain conditions are met.
- Fair market value: The price at which an asset would change hands in a transaction between a willing, informed buyer and a willing, informed seller.
(b) A copy of all other documents relevant to the purchase of the conservation land, including, but not limited to, environmental assessments or other documents not already disclosed pursuant to Section 5096.513.
(Amended by Stats. 2006, Ch. 538, Sec. 568. Effective January 1, 2007.)