Utah Code 65A-7-1. Division to make rules for the sale, exchange, or lease of state lands
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Terms Used In Utah Code 65A-7-1
- Division: means the Division of Forestry, Fire, and State Lands. See Utah Code 65A-1-1
- 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
- State lands: means all lands administered by the division. See Utah Code 65A-1-1
The division shall establish criteria by rule for the sale, exchange, lease, or other disposition or conveyance of state lands including procedures for determining fair market value of those lands.
Amended by Chapter 294, 1994 General Session