Arizona § 37-261 Authority to auction reversion rights

Arizona Statutes

§ 37-261 — Authority to auction reversion rights

Arizona § 37-261

Title 37Arizona Revised Statutes

Ch. 2ADMINISTRATION OF STATE AND OTHER PUBLIC LANDS

Art. 3Sale of State Lands

This text of Arizona § 37-261 (Authority to auction reversion rights) is published on Counsel Stack Legal Research, covering Arizona primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ariz. Rev. Stat. Ann. § 37-261 (2026).

Text

A.If this state has held a right of reversion with respect to any land sold under this article for ten years without exercise or encumbrance, the commissioner may order the right of reversion to be appraised and offered for sale at public auction. The commissioner shall prescribe a minimum acceptable bid.

B.The purchaser shall agree in writing to indemnify and hold harmless this state, the department and the commissioner against all liability with respect to the land.

C.The commissioner shall deposit, pursuant to sections 35-146 and 35-147, the revenues from the sale in the appropriate fund under article 13 of this chapter.

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A. If this state has held a right of reversion with respect to any land sold under this article for ten years without exercise or encumbrance, the commissioner may order the right of reversion to be appraised and offered for sale at public auction. The commissioner shall prescribe a minimum acceptable bid.

B. The purchaser shall agree in writing to indemnify and hold harmless this state, the department and the commissioner against all liability with respect to the land.

C. The commissioner shall deposit, pursuant to sections 35-146 and 35-147, the revenues from the sale in the appropriate fund under article 13 of this chapter.