Sevier Valley (C-27338)
What are trust lands?
Trust lands are parcels of land granted by Congress to Utah at statehood to support specific beneficiaries, including public schools, universities, hospitals, and reservoirs.  Trust lands are not public lands, but are generally open for public use, when possible. Trust lands were allocated specifically to generate revenue to support our beneficiaries. SITLA currently manages 3.3 million surface acres on behalf of our beneficiaries.
ONLINE BIDDING INFORMATION:
To register as a bidder or to place a bid, please see box to the right.
Bid Start Time for this Parcel:Â TBD
Bid End Time for this Parcel: TBD
CLOSING COSTS:
The closing costs are expenses incurred to prepare the property for sale. A large portion of the costs is for the completion of a cultural resource survey, which is required by law.
These costs are in addition to the 10% down payment. All closing costs are due from the winning bidder within 24 hours after completion of the auction and cannot be financed.
TOTAL CLOSING COSTS FOR THIS PARCEL:Â TBD
Beneficiary:
The net proceeds from the sale of this property will be deposited into the permanent fund for the beneficiary of the University of Utah.
Legal Description:
Township 23 South, Range 2 West, SLB&M
Section 8: SW4NE4NE4, SE4SE4NW4NE4, NE4SW4NE4 (within) (survey being completed)
Location:
The property is located on the eastern side of I-70, approximately 5 miles north of the city of Richfield. The Sevier Valley Canal is located northwest of the parcel.
Access:
Additional Information:
TBD
Acreage:
10.00 acres, more or less (property is being surveyed)
Water Rights:
TBD
Utilities:
TBD
Zoning:
TBD
Financing:
Financing will be offered for this parcel at a variable interest rate of prime plus 2.5% or 7.5%, whichever is greater. A down payment of 10% and closing costs will be due at the auction. The remaining balance can be financed for up to a 20 year term.
During the time when the property is being financed (before a patent is issued), the county records will show the property as state trust lands with notices being sent in care of the purchaser. All improvements to the land during the financing period will need approval.
Mineral Lease Encumbrances:
None
Surface Lease Encumbrances:
- Easement No. 1408, issued to Sevier County for a Class B road, issued for a perpetual term
- Easement No. 1861, issued to Sevier County for Class D roads, issued for a perpetual term
- Easement No. 2688, issued to RJ&S Rickenbach, LLC for a pipeline, pond, and road; with an expiration date of May 8, 2054
- Grazing Permit No. 20277-24, issued to Sportsmen for Fish and Wildlife (the land sold will be deleted from the grazing permit)
Cultural Resource Covenant:
A historical and cultural resource survey will be conducted on this parcel. The property will be sold with reservations for any significant cultural or historical resources which are identified.
Disclosures:
- A disclosure summary and certificate of sale template document for general disclosures which apply to all parcels being offered for sale at this auction are available, upon request.
- All mineral rights will be reserved, including geothermal.
- The sand and gravel on the parcel will be subject to a royalty provision if sold commercially.
- The property will be conveyed subject to all valid existing rights.
