Okla. Admin. Code § 260:95-3-6

Current through Vol. 42, No. 4, November 1, 2024

Section 260:95-3-6 - Direct sale of property to another public agency

(a) If a surplus property is appropriate for direct sale to a non-state public agency, the sale price shall not be less than fair market value.

(b) The entity purchasing the property will be responsible for all costs and fees associated with the sale, including, but not limited to:

(1) One complete appraisal, obtained by the state;

(2) Any required surveys;

(3) Any required assessments;

(4) Any miscellaneous expenses arising from the sale; and

(5) Closing costs.

(c) If direct sale to a non-state public entity is determined by the Office of Management and Enterprise Services to be in the best interest of the state, Real Estate and Leasing Services will:

(1) Negotiate the sales price on behalf of the owning agency.

(2) Prepare all documents necessary for transfer;

(3) Make a recommendation for transfer to the Long-Range Capital Planning Commission;

(4) Facilitate the execution and filing of documents transferring ownership; and

(5) Deposit proceeds from the sale in the appropriate fund.

Okla. Admin. Code § 260:95-3-6

Adopted by Oklahoma Register, Volume 31, Issue 24, September 2, 2014, eff. 9/12/2014

Adopted by Oklahoma Register, Volume 35, Issue 24, September 4, 2018, eff. 9/14/2018