Nevada Revised Statutes 321.125 – Sale of state land to public agency or local government
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1. The State Land Registrar may make direct sales of lands owned by the State to a public agency or local government of the State if the land is:
Terms Used In Nevada Revised Statutes 321.125
- 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.
(a) Not needed for use by the State; and
(b) Needed for a valid public use.
2. Land sold pursuant to this section must be sold at a price equal to at least the current fair market value of the land plus the costs of the sale, including expenses related to the appraisal of the land.
3. As used in this section, ‘local government’ has the meaning ascribed to it in NRS 354.474.