Utah Admin. Code R907-80-2 - Definitions
(1) "Appraisal "
means the same as it is defined in Subsection
61-2G-102(1)(a).
(2) "Bidder " means a person who offers to pay
a certain amount of money in exchange for title to an interest in real or
personal property the department offers for sale.
(3) "Confirmable Delivery Method " means any
method of delivering documents that provides a way to confirm they were
delivered to the intended party or location.
(4) The "Department " means the Utah
Department of Transportation.
(5)
The "Director " means the Executive Director of the Utah Department of
Transportation or the Executive Director 's designee.
(6) "First right of refusal " means the same
as "right of first refusal" and "right of first consideration."
(7) "Minimum acceptable selling price " means
a price established by the department based upon the market value of the
property as established by an appraisal or other means; plus, costs associated
with preparing the property for and executing the sale, such as the costs of
advertising, appraising, performing environmental assessments, and processing
the transaction.
(8) As used in
this rule, "surplus land ," "surplus property ," or "land " mean an estate in real
property to which the department is the owner and the director has declared to
be surplus.
(9) The "Transportation
Commission" or "Commission" means the Utah Transportation Commission.
(10) A "Utah Public Entity " means a political
subdivision of the state, an agency of the state, a county, a municipality, or
a special services district of the state, a county, or municipality.
Notes
State regulations are updated quarterly; we currently have two versions available. Below is a comparison between our most recent version and the prior quarterly release. More comparison features will be added as we have more versions to compare.
No prior version found.