Montana Code 7-8-2214. Appraisal required for certain sales
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7-8-2214. Appraisal required for certain sales. Unless otherwise provided:
Terms Used In Montana Code 7-8-2214
- Appraisal: A determination of property value.
- 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.
- Property: means real and personal property. See Montana Code 1-1-205
(1)in all sales of property of a value in excess of $2,500, there must, before any sale, be an appraisal thereof by the board and at a price representing a fair market value of such property. Such appraised value shall be stated in the notice of sale.
(2)no sale shall be made at public auction or to any school district without public auction of any property unless it has been appraised within 3 months prior to the date of the sale.