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 3.4 million surface acres on behalf of our beneficiaries.
ONLINE BIDDING INFORMATION:
Bid Start Time for this Parcel: 9am (MT) November 4, 2021
Bid End Time for this Parcel: 10:30am (MT) November 10, 2021
The closing costs are in addition to the 10% down payment. The cultural resources survey costs may be financed, upon approval. All other closing costs are due from the prevailing bidder at the auction and cannot be financed.
The net proceeds from the sale of this property will be deposited into the permanent fund for the beneficiary of Public Schools.
Township 5 South, Range 21 East, SLB&M
Section 10: N2N2N2SW4SW4
The property is located southwest of Vernal, along 1500 West.
Access to the property is from 1500 West.
This land is relatively flat with typical grasses and shrubs for the area.
6.62 Acres, More or Less (Survey Below)
No water rights are being sold with this property.
Utilities are located nearby.
MG1 (Mining and Grazing)
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.
Cultural Resource Covenant:
A cultural resource survey was conducted on this parcel. Significant site(s) were identified. The parcel will be sold with cultural reservations for the significant site(s).
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