Utah Admin. Code R907-80-11 - Negotiated Exchanges
(1) The
department may exchange real property for other real property with a Utah
Public Entity , an individual, business, private enterprise, or not-for-profit
organization.
(2) Exchanges may be
made to acquire land the department needs for highway use in compliance the
approval requirements of Subsection
72-5-111(1)(c).
(3) Real property exchange transactions are
not subject to competitive solicitation procedures.
(4) Exchanges of surplus real property must
comply with state law. Exchanges of real property involving the department and
a Utah public entity must follow the requirements of the Interlocal Cooperation
Act, Sections
11-13-101
through 608.
(5) The financial
consideration received for any real property exchange to an individual,
business, private enterprise, or not-for-profit organization must be equal to
or higher than the current market value of the department 's real property, as
determined by any reasonable means.
(6) Real property received in an exchange
must be free from liens, encumbrances, and clouds on title unless the director
determines after review that accepting the property is in the best interests of
the state. The director 's justification for accepting property with a lien,
encumbrance, or cloud on title must be in writing.
Notes
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