R850-80-300. Determination of Fair Market Value

(1) If the director determines that the sale of a parcel of trust lands is in the best interest of the beneficiaries, the director shall determine the fair market value of the parcel. In determining the fair market value of a parcel, the director may consider one or more of the following: (a) a valuation appraisal, as that term is defined in Subsection 61-2g-102(1)(a)(ii)(C); (b) a market analysis, including evaluation of real estate trends, market demand, opportunity costs of the sale, and the management costs of retention; or (c) other information that the director considers relevant. (2) The director shall evaluate whether taking prudent and cost-effective actions would increase the fair market value of the parcel.