Utah Code 63A-5b-902. Application of part
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(1) Except as stated in Subsection (1)(d), the provisions of this part, other than this section, do not apply to:
Terms Used In Utah Code 63A-5b-902
- Division: means the Division of Facilities Construction and Management created in Section
63A-5b-301 . See Utah Code 63A-5b-102 - Division-owned property: means real property, including an interest in real property, to which the division holds title, regardless of who occupies or uses the real property. See Utah Code 63A-5b-901
- 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.
- Land: includes :(18)(a) land;(18)(b) a tenement;(18)(c) a hereditament;(18)(d) a water right;(18)(e) a possessory right; and(18)(f) a claim. See Utah Code 68-3-12.5
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- Property: includes both real and personal property. See Utah Code 68-3-12.5
- State: when applied to the different parts of the United States, includes a state, district, or territory of the United States. See Utah Code 68-3-12.5
(1)(a) the division‘s disposal or lease of division-owned property that would otherwise be subject to thisproperty has”>part, if the division-owned property has a value under $500,000, as estimated by the division;(1)(b) a conveyance, lease, or disposal of division-owned property in connection with:(1)(b)(i) the establishment of a state store, as defined in Section32B-1-102 ; or(1)(b)(ii) the construction of student housing;(1)(c) a conveyance, lease, or disposal of any part of the point of the mountain state land, as defined in Section11-59-102 , by the Point of the Mountain State Land Authority created in Section11-59-201 ;(1)(d) a conveyance, lease, or disposal of division-owned property for fair market value, as determined by the division, under Subsection63A-5b-303 (1)(a)(viii), except that the following sections apply:(1)(d)(i) Section63A-5b-907.5 ;(1)(d)(ii) Section63A-5b-908 ;(1)(d)(iii) Section63A-5b-910 ;(1)(d)(iv) Section63A-5b-911 ; and(1)(d)(v) Section63A-5b-912 ; or(1)(e) a conveyance, lease, or disposal of any state-owned land, as defined in Section11-70-101 , by the Utah Fairpark Area Investment and Restoration District, created in Section11-70-201 .
(2) Nothing in Subsection (1)(a), (b), or (d) may be construed to diminish or eliminate the division’s responsibility to manage division-owned property in the best interests of the state.