1. (1) The director may conduct a public auction in person or electronically.

2. (2) The director shall publish the bidding procedures at the agency's website, which procedures must include:

   1. (a) information required to register for the auction, if applicable;
   2. (b) payments required to be paid at the auction by the successful bidder, including the down payment and costs and fees assessed by the director pursuant to Subsection R850-80-610(5);
   3. (c) whether the director is willing to finance the unpaid portion of the purchase price; and
   4. (d) disclosure of a Statutory Purchase Right if applicable.
3. (3) The director may disclose the minimum acceptable purchase price for the subject parcel.
4. (4) The holder of a Statutory Purchase Right must be registered for the auction to exercise the right.
5. (5) The director may require that the successful bidder reimburse the agency for costs incurred by the agency in preparing the subject parcel for sale, including the costs of advertising, appraisal, cultural resource investigations, and environmental assessments. The director may also charge a sale processing fee.
6. (6) A bid constitutes a valid offer to purchase.
7. (7) The holder of a Statutory Purchase Right may exercise the right by matching the higher of the highest credible bid received by the agency or the agency-established minimum acceptable purchase price within 24 hours of the conclusion of the auction. If the holder exercises its Statutory Purchase Right, it will be deemed the successful bidder. If the holder does not exercise its Statutory Purchase Right, the holder waives the right with respect to the particular sale. To exercise a Statutory Purchase Right, the holder must give the agency written notice and pay all amounts required for a bidder to acquire the subject parcel within the 24 hour period.
8. (8) At the conclusion of the auction, the successful bidder shall pay the agency the down payment, the costs and fees published pursuant to Subsection R850-80-610(5), and if the successful bidder elects to finance through the agency, the interest on the unpaid balance as calculated from the date of sale to the first day of the following month.
9. (9) If the successful bidder does not finance the remainder of the purchase price through the agency, the successful bidder shall pay the remainder of the purchase price at the conclusion of the auction. If the successful bidder fails to pay the purchase price at the auction, the director is not required to finalize the transaction and the agency may retain all amounts paid by the successful bidder at the auction.
10. (10) If the successful bidder fails to pay the amounts required under Subsection R850-80-610(8) or fails to execute the certificate of sale within 30 days, pursuant to Subsection R850-80-700(2), the director may offer the subject parcel for sale to the person whose bid was second highest at the auction. The purchase price paid by the second highest bidder must meet or exceed the minimum acceptable purchase price. To accept the director's offer, the second highest bidder shall submit all amounts owing under Subsection R850-80-610(8) or R850-80-610(9) and execute the certificate of sale within 30 days after the director's offer.
11. (11) If a third party owns improvements on a parcel of trust lands sold at auction that were installed pursuant to a valid permit or other right granted by the director and the valid right does not survive the sale of the parcel, the purchaser shall permit the owner of the improvements to remove them within 90 days after the date of the auction.

KEY: administrative procedures, sales

Date of Last Change: September 15, 2025

Notice of Continuation: May 26, 2022

Authorizing, and Implemented or Interpreted Law: 53C-1-302(1)(a)(ii); 53C-2-201(1)(a); 53C-4-101(1); 53C-4-102; 53C-4-104; 53C-4-202(6); 63G-2-305; 72-5-203(1)(a)(i); 72-5-203(2)(a)