Washington Code 79.11.340 – Sale of acquired lands
Current as of: 2023 | Check for updates
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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 by escheat, deed of sale, gift, devise, or under RCW 79.19.010 through 79.19.110, except such lands that are conveyed or devised to the state for a particular purpose.
Terms Used In Washington Code 79.11.340
- 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.
- Testator: A male person who leaves a will at death.
(2) Except as provided in RCW 79.19.030(4), when the department determines to sell the lands, they may initially be offered for sale either at public auction or direct transfer to public agencies as provided in this chapter.
(3) The department may, with approval of the board, market the lands through persons licensed under chapter 18.85 RCW or through other commercially feasible means at a price not lower than the land’s appraised value.
(4) Necessary marketing costs may be paid from the sale proceeds. For the purpose of this subsection, necessary marketing costs include reasonable costs associated with advertising the property and paying commissions.
(5) Proceeds of the sale shall be deposited into the appropriate fund in the state treasury unless the grantor in any deed or the testator in case of a devise specifies that the proceeds of the sale be devoted to a particular purpose.
NOTES:
Findings—2023 c 383: See note following RCW 79.17.300.
Intent—2003 c 334: See note following RCW 79.02.010.