17 AAC 10.105. Disposal by negotiated sale to an adjoining property owner

(a) The department will, in its discretion, convey the interest that it holds in a parcel of excess right-of-way to an adjoining property owner, if the adjoining property owner applies for the conveyance and pays a $200 nonrefundable application fee, and if the

(1) adjoining property is the land from which an acquisition of land, in a fee simple interest, for the right-of-way was made; or

(2) right-of-way is held as an easement and the owner of the underlying fee simple interest is also the owner of the adjoining land.

(b) The consideration for a conveyance of a fee simple interest under this section is the fair market value of the land, estimated under commonly accepted appraisal techniques. If the interest the department holds is an easement, the consideration for the transaction is 90 percent of the fair market value of the fee simple interest, not subject to the easement.

(c) A grantee under this section shall provide appraisal services, title insurance, surveying, and platting that are acceptable to the department, or reimburse the department for the cost of these activities if the department provides them.

(d) The department will not make a conveyance under this section without issuing public notice of the pending sale, published at least once in a newspaper of general circulation, in the area where the excess right-of-way is located, at least 30 days before the projected closing date of the transaction. In that notice, the department will describe the land offered for sale, and provide that the department will accept public comments regarding the sale that are received before the projected closing date. The grantee shall reimburse the department for the cost of public notice.

History: Eff. 5/4/2000, Register 154

Authority: AS 19.05.020

AS 19.05.070

AS 44.42.030

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