Utah Code 77-11b-202. Sale of seized property subject to forfeiture
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(1)
Terms Used In Utah Code 77-11b-202
- Claimant: means the same as that term is defined in Section 77-11a-101. See Utah Code 77-11b-101
- Interest holder: means the same as that term is defined in Section 77-11a-101. See Utah Code 77-11b-101
- Person: means :(24)(a) an individual;(24)(b) an association;(24)(c) an institution;(24)(d) a corporation;(24)(e) a company;(24)(f) a trust;(24)(g) a limited liability company;(24)(h) a partnership;(24)(i) a political subdivision;(24)(j) a government office, department, division, bureau, or other body of government; and(24)(k) any other organization or entity. See Utah Code 68-3-12.5
- Proceeds: means the same as that term is defined in Section 77-11a-101. See Utah Code 77-11b-101
- Property: means the same as that term is defined in Section 77-11a-101. See Utah Code 77-11b-101
- Seized property: means the same as that term is defined in Section 77-11a-101. See Utah Code 77-11b-101
(1)(a) Except for property that is required to be retained or preserved under Chapter 11c, Retention of Evidence, the court may order seized property for which a forfeiture proceeding is pending to:
(1)(a)(i) be sold, leased, rented, or operated to satisfy a specified interest of any claimant; or
(1)(a)(ii) preserve the interests of any party on motion of that party.
(1)(b) The court may only enter an order under Subsection (1)(a) after:
(1)(b)(i) written notice to any person known to have an interest in the property has been given; and
(1)(b)(ii) an opportunity for a hearing for any person known to have an interest in the property has occurred.
(2)
(2)(a) A court may order a sale of property under Subsection (1) when:
(2)(a)(i) the property is liable to perish, waste, or be significantly reduced in value; or
(2)(a)(ii) the expenses of maintaining the property are disproportionate to the property’s value.
(2)(b) A third party designated by the court shall:
(2)(b)(i) dispose of the property by a commercially reasonable public sale; and
(2)(b)(ii) distribute the proceeds in the following order of priority:
(2)(b)(ii)(A) first, for the payment of reasonable expenses incurred in connection with the sale;
(2)(b)(ii)(B) second, for the satisfaction of an interest, including an interest of an interest holder, in the order of an interest holder’s priority as determined by Title 70A, Uniform Commercial Code; and
(2)(b)(ii)(C) third, any balance of the proceeds shall be preserved in the actual or constructive custody of the court, in an interest-bearing account, subject to further proceedings under this chapter.