Washington Code 79.13.150 – Lease/rent of acquired lands
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(1) Except as provided in RCW 79.10.030(2), the department shall manage and control all lands acquired by the state through escheat, deed of sale, gift, devise, or under RCW 79.19.010 through 79.19.110, except lands that are conveyed or devised to the state for a particular purpose.
Terms Used In Washington Code 79.13.150
- Deed: The legal instrument used to transfer title in real property from one person to another.
- Devise: To gift property by will.
- Escheat: Reversion of real or personal property to the state when 1) a person dies without leaving a will and has no heirs, or 2) when the property (such as a bank account) has been inactive for a certain period of time. Source: OCC
- Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
- Grantor: The person who establishes a trust and places property into it.
- 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
- Testator: A male person who leaves a will at death.
(2) The department shall lease the lands in the same manner as school lands.
(3) The department may employ agents to rent any escheated, deeded, or devised lands, or lands acquired under RCW 79.19.010 through 79.19.110 for such rental, time, and manner as the department directs.
(a) The agent shall not rent the property for a period longer than one year.
(b) No tenant is entitled to compensation for any improvement that he or she makes on the property.
(c) The agent shall cause repairs to be made to the property as the department directs.
(d) Rental shall be transmitted monthly to the department. The agent shall deduct the cost of any repairs made under (c) of this subsection, together with such compensation and commission as the department authorizes from the rental.
(4) Proceeds of any lease or rental shall be deposited into the appropriate fund in the state treasury. If the grantor in any deed or the testator in case of a devise specifies that the proceeds be devoted to a particular purpose, such proceeds shall be so applied.
[ 2003 c 334 § 400.]
NOTES:
Intent—2003 c 334: See note following RCW 79.02.010.