Utah Code R907-80-11 - Negotiated Exchanges
(1) The department
may exchange real property for other real property with a Utah Public Entity,
an individual, a business, a private enterprise, or a not-for-profit
organization.
(2) Exchanges may be
made to acquire land the department needs for highway use in compliance with
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
11-13-608.
(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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