Arizona § 37-261 - Authority to auction reversion rights
Full text of Arizona Arizona Revised Statutes § 37-261 — Authority to auction reversion rights, with citation guidance and answers to common questions.
§ 37-261. Authority to auction reversion rights
A. If this state has held a right of reversion with respect to any land sold under this article for ten years without exercise or encumbrance, the commissioner may order the right of reversion to be appraised and offered for sale at public auction. The commissioner shall prescribe a minimum acceptable bid.
B. The purchaser shall agree in writing to indemnify and hold harmless this state, the department and the commissioner against all liability with respect to the land.
C. The commissioner shall deposit, pursuant to sections 35-146 and 35-147, the revenues from the sale in the appropriate fund under article 13 of this chapter.
Source: official Arizona text · Last verified 2026-08-27
Frequently Asked Questions About Arizona § 37-261
What does Arizona Revised Statutes § 37-261 cover?
Section 37-261 ("Authority to auction reversion rights") is part of the Arizona Revised Statutes, the codified statutory law of Arizona. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Arizona § 37-261?
A common citation format is "Arizona Revised Statutes § 37-261" (Arizona). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Arizona law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Arizona official source linked on this page or consult a licensed Arizona attorney.
How does Arizona § 37-261 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Arizona can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Arizona.