Utah Code > Title 63B > Chapter 17 > Part 4 – 2008 Property Acquisition Authorizations


§ 63B-17-401	Authorizations to acquire or exchange property

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Division: means the Division of Facilities Construction and Management. See Utah Code 63B-1-101
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}
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