Utah Code 65A-7-7. Exchanges of sovereign lands — Based on equal value — Lands encumbered by a lease
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(1)
Terms Used In Utah Code 65A-7-7
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Deed: The legal instrument used to transfer title in real property from one person to another.
- Division: means the Division of Forestry, Fire, and State Lands. See Utah Code 65A-1-1
- 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
- Sovereign lands: means those lands lying below the ordinary high water mark of navigable bodies of water at the date of statehood and owned by the state by virtue of its sovereignty. See Utah Code 65A-1-1
- 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) In accordance with division rules and when in the best interest of the state, sovereign lands may be exchanged for other land or other assets within the state held by other proprietors.
(1)(b) Upon request of the division, the governor shall execute and deliver the necessary patents to other proprietors and receive proper deeds of the lands so exchanged.
(1)(c) An exchange may not be made by the division until a deed or patent for the land received in exchange has been issued by the proprietors.
(2)
(2)(a) If sovereign lands are encumbered by an existing lease, the division, upon approval of an exchange, may, with the consent of the lessee, terminate the existing lease and issue a lease of the same type, on lands of comparable acreage or value, which may be acquired in the same exchange in which the leased lands are used as base.
(2)(b) Upon acceptance of exchanged lands, the state shall honor all vested rights.