Idaho Code § 14-5-701
This is the official text of Idaho Code § 14-5-701, part of Idaho’s Code — part of the compiled statutory law of Idaho, published by the state as "Code." Browse the sections below, each linked to its official government source.
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14-5-701 PUBLIC SALE OF PROPERTY.
Official statutory text
PART 7
SALE OF PROPERTY BY ADMINISTRATOR
14-5-701. PUBLIC SALE OF PROPERTY. (1) Subject to the provisions of section 14-5-702, Idaho Code, the administrator may sell property presumed abandoned.
(2) Before selling property under subsection (1) of this section, the administrator shall give notice to the public of:
(a) The date of the sale; and
(b) A reasonable description of the property.
(3) A sale made under subsection (1) of this section must be to the highest bidder:
(a) At public sale at a location in this state that the administrator determines to be the most favorable market for the property;
(b) On the internet; or
(c) On another forum the administrator determines is likely to yield the highest net proceeds of sale.
(4) The administrator may decline the highest bid at a sale held under this section and reoffer the property for sale if the administrator determines the highest bid is insufficient.
(5) The administrator shall publish at least one (1) notice in the official newspaper of each Idaho county at least three (3) weeks but no more than five (5) weeks in advance of any sale held pursuant to this section.
(6) Property disposed of by the administrator under this section shall not be subject to the provisions of section 67-2024A, 67-5722, or 67-5732A, Idaho Code.
History:
[14-5-701, added 2024, ch. 27, sec. 2, p. 203.]
SALE OF PROPERTY BY ADMINISTRATOR
14-5-701. PUBLIC SALE OF PROPERTY. (1) Subject to the provisions of section 14-5-702, Idaho Code, the administrator may sell property presumed abandoned.
(2) Before selling property under subsection (1) of this section, the administrator shall give notice to the public of:
(a) The date of the sale; and
(b) A reasonable description of the property.
(3) A sale made under subsection (1) of this section must be to the highest bidder:
(a) At public sale at a location in this state that the administrator determines to be the most favorable market for the property;
(b) On the internet; or
(c) On another forum the administrator determines is likely to yield the highest net proceeds of sale.
(4) The administrator may decline the highest bid at a sale held under this section and reoffer the property for sale if the administrator determines the highest bid is insufficient.
(5) The administrator shall publish at least one (1) notice in the official newspaper of each Idaho county at least three (3) weeks but no more than five (5) weeks in advance of any sale held pursuant to this section.
(6) Property disposed of by the administrator under this section shall not be subject to the provisions of section 67-2024A, 67-5722, or 67-5732A, Idaho Code.
History:
[14-5-701, added 2024, ch. 27, sec. 2, p. 203.]
Status: in_force · Read it on the official government site
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