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: 10:40am MDT, June 8, 2023
Bid End Time for this Parcel: 11:40am MDT, June 13, 2023
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 20 South, Range 7 East, SLB&M
Section 23: S½SE¼
The parcel is located near the town of Ferron in Emery County
The property is accessed from Power Line West Road which runs through the property.
The rectangular parcel is surrounded on all sides by private lands. Vegetation is predominantly mat saltbrush and Nuttall saltbrush. Elevation across the property has an average of 5,850 and topography is level to rolling with adequate drainage.
80.00 Acres, more or less
No public utilities extend to the subject property. Electricity is provided throughout the area by Rocky Mountain Power. Telephone services are provide throughout the area by Emery Telcom. Propane is provided by private carriers because this property is outside of any incorporated townsite. Sewer may be disposed of onsite through septic systems approved and monitored by Southeastern Utah District Health Department. Interested buyers are encouraged to do their own due diligence regarding utilities to the subject property.
The property is zoned MG&R-1 (Mining and Grazing). Single family dwellings can be constructed within the MG&R-1 Zone. However, each lot has to have a minimum of 40 acres and must be at least 300 feet wide.
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. No significant sites were identified.
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