Idaho § 41-729 - Time limit for disposal of real estate
Full text of Idaho Idaho Statutes § 41-729 — Time limit for disposal of real estate, with citation guidance and answers to common questions.
§ 41-729. Time limit for disposal of real estate
(1) Except as provided in subsection (4) below, an insurer shall dispose of real estate within time limits as follows:
(a) If acquired under section 41-728 (1)(a) (home office and branch office property), the insurer shall sell and dispose of the property within five (5) years after it ceased to be used or to be necessary for the purposes stated therein.
(b) If acquired under subdivisions (b) (in satisfaction of debts, etc.), (c) (in part payment on other real estate sold), (d) (by gift or devise), or (e) (merger or consolidation) of section 41-728 (1), the insurer shall sell and dispose of the property within five (5) years after the insurer acquired title thereto.
(c) If acquired under section 41-728 (1)(f) (for production of income), the insurer shall within five (5) years after the termination or expiration of the lease, sell and dispose of the property, or re-lease the property for an additional term under the same conditions provided in such section as for an original leasing.
(2) Any real estate otherwise subject to disposal under subdivisions (b) or (c) above, may be retained by the insurer for home office or branch office purposes for so long as so used, and subject to provisions otherwise applicable to such home office and branch office property.
(3) Any real property otherwise subject to disposal under subdivisions (a) and (b) above, may be retained by the insurer for leasing under section 41-728 (1)(f) for so long as so used, and subject to provisions otherwise applicable to such real estate for leasing.
(4) Upon proof satisfactory to him that the interests of the insurer will suffer materially by the forced sale thereof, the commissioner may by certificate grant a reasonable additional period, as specified in the certificate, within which the insurer shall dispose of any particular parcel of real estate.
(5) Real estate held by an insurer beyond the period allowed for its disposal under this section shall not constitute an asset of the insurer in any determination of the insurer’s financial condition.
[41-729, added 1961, ch. 330, sec. 166, p. 645.]
Source: official Idaho text · Last verified 2026-08-27
Frequently Asked Questions About Idaho § 41-729
What does Idaho Statutes § 41-729 cover?
Section 41-729 ("Time limit for disposal of real estate") is part of the Idaho Statutes, the codified statutory law of Idaho. 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 Idaho § 41-729?
A common citation format is "Idaho Statutes § 41-729" (Idaho). 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 Idaho law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Idaho official source linked on this page or consult a licensed Idaho attorney.
How does Idaho § 41-729 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Idaho 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 Idaho.