Montana Code 77-2-306. Who may purchase
77-2-306. Who may purchase. (1) State land may be sold to any person who is 18 years of age or older or any governmental or private entity including tribal governments as defined in 18-11-102.
Terms Used In Montana Code 77-2-306
- Fair market value: The price at which an asset would change hands in a transaction between a willing, informed buyer and a willing, informed seller.
- Person: includes a corporation or other entity as well as a natural person. See Montana Code 1-1-201
- Property: means real and personal property. See Montana Code 1-1-205
- State: when applied to the different parts of the United States, includes the District of Columbia and the territories. See Montana Code 1-1-201
(2)A sale involving land in excess of 160 acres may not be made under this section without first consulting with the board of county commissioners of the county or counties in which the lands to be sold are located.
(3)State land may not be sold to the federal government or to an agency of the federal government, except for the purpose of building federal facilities and structures. Nothing in this section prohibits the sale of state land to a tribal government as defined in 18-11-102.
(4)A local government that sold or transferred property to the state has the right of first refusal if the state subsequently offers the property for sale. For purposes of this subsection, “right of first refusal” means the right to have the first opportunity to purchase the property for not less than fair market value when the property becomes available or the right to meet any other offer.