Indiana § 8-23-7-13 Sale of surplus property

Indiana Statutes

§ 8-23-7-13 — Sale of surplus property

Indiana·Art. 23 INDIANA DEPARTMENT OF·Ch. 7 Real Property Transactions

If the department determines that real property owned in fee simple by the department will not be needed for a purpose described in section 2 of this chapter, the commissioner may, with the approval of the budget agency, issue an order describing the surplus property and offering the surplus property for sale at or above its fair market value as determined by:

(1)appraisers of the department, if the value of the property is at least ten thousand dollars ($10,000); or

(2)agency real estate professionals, if the value of the property is less than ten thousand dollars ($10,000). The department may combine or divide parcels of surplus property to facilitate the sale of the property.

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If the department determines that real
property owned in fee simple by the department will not be needed for
a purpose described in section 2 of this chapter, the commissioner may,
with the approval of the budget agency, issue an order describing the
surplus property and offering the surplus property for sale at or above
its fair market value as determined by:
(1) appraisers of the department, if the value of the property is at
least ten thousand dollars ($10,000); or
(2) agency real estate professionals, if the value of the property is
less than ten thousand dollars ($10,000).
The department may combine or divide parcels of surplus property to
facilitate the sale of the property.

Indiana § 8-23-7-13 (Sale of surplus property) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.