Sec. 10.7. (a) The department may transfer state property to a person in exchange for property of like value transferred by the person to the state:
(1) to:
(A) settle a dispute relating to either or both of the properties; or
(B) improve:
(i) the state's ability to manage state property; or
(ii) access to state property; and
(2) without offering to transfer the state property:
(A) to state agencies, state educational institutions, or a political subdivision under this chapter; or
(B) after a sale of the property under this chapter.
(b) The department must establish that properties exchanged under this section are of like value through appraisals or other means approved by the commissioner.
As added by P.L.267-1999, SEC.9. Amended by P.L.33-2011, SEC.1.
Structure Indiana Code
Title 4. State Offices and Administration
Article 20.5. State Real Property
Chapter 7. Disposition of Property
4-20.5-7-1. Application of Chapter
4-20.5-7-2. Transferring Agency Head; Duties
4-20.5-7-3. Verifications by Land Offices
4-20.5-7-4.5. Effect of Deeds of Certain State Property; Legalization
4-20.5-7-4.6. Effect of Deed of Certain State Property; Legalization
4-20.5-7-5. Environmental Audit
4-20.5-7-6. Notice of Proposed Transfer
4-20.5-7-7. Transfer of Property Between Agencies or Educational Institutions
4-20.5-7-7.3. Priority for Transfers
4-20.5-7-8. Transfer to Political Subdivision or Public Utility or Sale
4-20.5-7-10. Transfer to Political Subdivision by Gift or Sale; Preference to Political Subdivisions
4-20.5-7-10.3. Appraisal of Property Transferred to Public Utility
4-20.5-7-10.5. Transfer to Public Utility; Consideration
4-20.5-7-10.7. Transfer of Property to Person for Property of Like Value
4-20.5-7-11. Sale of Abandoned Railroad Corridor Property; Exception
4-20.5-7-14. Auction Procedure
4-20.5-7-15. Sale at Less Than Appraised Value; Grant of Easement
4-20.5-7-16. Cash Sale; Proceeds Depository
4-20.5-7-16.5. Proceeds Credited to Separate Account for Purchase of Other Real Property
4-20.5-7-17. Instrument of Transfer; Signatures