Section 324.2132 - Sale of surplus land; price; methods; sale to highest bidder; condition to acceptance of bid; notice; disposition of proceeds; quitclaim deed. - Michigan Statutes

NATURAL RESOURCES AND ENVIRONMENTAL PROTECTION ACT (EXCERPT)
Act 451 of 1994

324.2132 Sale of surplus land; price; methods; sale to highest bidder; condition to acceptance of bid; notice; disposition of proceeds; quitclaim deed.

Sec. 2132.

(1) The department may sell surplus land at a price of not less than its fair market value as determined by an appraisal.

(2) The sale of surplus land shall be conducted by the department through 1 of the following methods:

(a) A sealed or oral bid public auction sale.

(b) A negotiated sale.

(3) The sale of surplus land through a sealed or oral bid public auction sale shall be to the highest bidder. A bid shall not be accepted for less than the fair market value of the surplus land as determined by an appraisal.

(4) A notice of the sale of surplus land shall be given as provided in section 2133.

(5) The proceeds from the sale of surplus land shall be deposited into the fund.

(6) Surplus land that is sold under this subpart shall be conveyed by quitclaim deed approved by the attorney general.

History: Add. 1995, Act 60, Imd. Eff. May 24, 1995 ;-- Am. 1998, Act 117, Imd. Eff. June 9, 1998
Popular Name: Act 451
Popular Name: NREPA