North Dakota Code > Chapter 15-72 – Coal Mine Reclamation Trust


§ 15-72-01	Trust establishment
§ 15-72-02	Powers and duties of the board – Transfer
§ 15-72-03	Assets and custody
§ 15-72-04	Trust management
§ 15-72-05	Continuing appropriation for trust management

Appraisal: A determination of property value.
Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
Deed: The legal instrument used to transfer title in real property from one person to another.
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.
Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). ^{Source: OCC}
Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
Person: means an individual, organization, government, political subdivision, or government agency or instrumentality. See North Dakota Code 1-01-49
Property: includes property, real and personal. See North Dakota Code 1-01-49
Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
State: when applied to the different parts of the United States, includes the District of Columbia and the territories. See North Dakota Code 1-01-49