63A-5b-304. Agencies authorized to hold title — Transfer of real property to a government entity.
| (1) |
As used in this section:
Terms Used In Utah Code 63A-5b-304- Appraisal: A determination of property value.
- Department: means the Department of Government Operations. See Utah Code 63A-1-103
- Director: means the division director, appointed under Section 63A-5b-302. See Utah Code 63A-5b-102
- Division: means the Division of Facilities Construction and Management created in Section 63A-5b-301. See Utah Code 63A-5b-102
- 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.
- Institution of higher education: means an institution listed in Subsection 53B-2-101(1). See Utah Code 63A-5b-102
- Property: includes both real and personal property. See Utah Code 68-3-12.5
- real property: includes :Utah Code 68-3-12.5
- 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 a state, district, or territory of the United States. See Utah Code 68-3-12.5
- Trust lands administration: means the School and Institutional Trust Lands Administration established in Section 53C-1-201. See Utah Code 63A-5b-102
| (a) |
“Agency property” means real property, as described in Subsection (2), that:
| (i) |
is owned by a title agency; and |
| (ii) |
the title agency no longer uses or needs. |
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| (b) |
“Government entity” means:
| (i) |
a local government entity, as defined in Section 63A-5b-901; or |
| (ii) |
a state agency, as defined in Section 63A-5b-901. |
|
| (c) |
“Title agency” means an agency listed in Subsection (2). |
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| (2) |
Notwithstanding Section 63A-5b-303, an agency may hold title to real property that the agency occupies for a purpose other than the agency’s administrative offices, if the agency is:
| (a) |
the Department of Transportation; |
| (b) |
the Department of Natural Resources; |
| (c) |
the Department of Workforce Services; |
| (d) |
the Division of Forestry, Fire, and State Lands; |
| (e) |
the Utah National Guard; |
| (f) |
an area vocational center or other institution administered by the State Board of Education; |
| (g) |
the trust lands administration; or |
| (h) |
an institution of higher education. |
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| (3) |
A title agency is not required to obtain an appraisal of agency property the title agency intends to transfer to a government entity if:
| (a) |
the director of the title agency determines that the transfer is in the best interest of the title agency and the state; and |
| (b) |
the government entity to which ownership of the agency property is transferred will use the property for a public purpose. |
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| (4) |
Subsection (3) does not apply if the title agency is required by law to receive fair market value in exchange for a transfer of agency property to a government entity. |
Amended by Chapter 200, 2023 General Session
