Montana § 7-8-2522 - Exchange Or Donation Of Real Property -- Appraisal Required

§ 7-8-2522. Exchange Or Donation Of Real Property -- Appraisal Required

Exchange or donation of real property -- appraisal required. (1) Subject to the provisions of this section and a resolution adopted pursuant to 7-8-2521 , the board may make trades, exchanges, or donations of real property owned by the county. (2) In an exchange of real property, the properties must be appraised and an exchange of county property may not be made unless property received in exchange for the county property is of an equivalent value. If the properties are not of equivalent values, the exchange may be completed if a cash payment is made in addition to the delivery of title for property having the lesser value. (3) If a county owns property containing a historically significant building or monument, the county may sell or give the property to nonprofit organizations or groups that agree to restore or preserve the property. The contract for the transfer of the property must contain a provision that: (a) requires the property to be preserved in its current or restored state upon any subsequent transfer; and (b) provides for the reversion of the property to the county for noncompliance with conditions attached to the transfer. (4) A county may authorize the transfer of ownership of rural improvement district improvements as provided in 7-12-2128 . (5) A county may donate real property or sell the property at a reduced price to a corporation for the purpose of constructing: (a) a multifamily housing development operated by the corporation for low-income housing; (b) single-family houses. Upon completion of a house, the corporation shall sell the property to a low-income person who meets the eligibility requirements of the corporation. After the sale is completed, the property becomes subject to taxation. (c) improvements to real property or modifying, altering, or repairing improvements to real property that will enable the corporation, subject to the restrictions of Article X, section 6, of the Montana constitution, to pursue purposes specified in the articles of incorporation of the corporation, including the sale, lease, rental, or other use of the donated land and improvements. (6) Land that is transferred pursuant to subsection (5) must be used to permanently provide low-income housing. The transfer of the property may contain a reversionary clause to reflect this condition.