1. (1) consider the most probable price, as of a specified date, that the land and infrastructure improvements owned in fee by the ground lesser should sell for:

   1. (a) after reasonable exposure in a competitive market;
   2. (b) under all conditions of a fair sale;
   3. (c) with the buyer and seller each acting prudently, knowledgeably, and in their self-interest; and
   4. (d) assuming neither buyer nor seller acts under duress;
2. (2) disregard the existence or terms of the ground lease; and
3. (3) determine if a commercial appraisal is required to assign the market value.

To determine the market value of land and infrastructure improvements under an order of rehabilitation or liquidation pursuant to Subsection 31A-44-502(2)(d) or 31A-44-503(4)(e), the commissioner shall:

KEY: insurance, continuing care facility

Date of Last Change: September 10, 2024

Notice of Continuation: April 7, 2022

Authorizing, and Implemented or Interpreted Law: 31A-44-202(2); 31A-2-201; 31A-44-314; 31A-44-401(3); 31A-44-402(2); 31A-44-502(2)(d); 31A-44-503(4)(d); 31A-44-601(6)(f); 31A-44-602(2)(b); 31A-44-203(4)