North Carolina Administrative Code › Title 01 - ADMINISTRATION › Chapter 06 - STATE PROPERTY AND CONSTRUCTION › Subchapter B - REAL PROPERTY › Section .0300 - DISPOSITION OF REAL PROPERTY › Section 06B .0303 - BY DEED

Current through Register Vol. 39, No. 2, July 15, 2024
By Deed
(1) A
				  PO-2, "Disposition of Real Property," must be sent to the Division of State
				  Property.
(2) An estimate of value
				  is determined as in Section .0900 of this Subchapter. This figure, plus
				  expenses of the sale, will be the initial asking price for the
				  property.
(3) Sale may be by bid or
				  by negotiation. Properties may be sold without advertisement and bidding if
				  negotiations with prospective purchaser are deemed in best interest of the
				  state. Property is not normally sold for less than the estimate of value plus
				  any expense incurred. In disposals of state-owned residential facilities,
				  residents may be allowed first refusal at the appraised value plus cost of
				  appraisal before sale to the general public.
(4) If advertising is deemed appropriate, an
				  advertisement is prepared and forwarded to local newspapers giving pertinent
				  information for sale, minimum bid acceptable, and deadline for submitting bids.
				  Usually, "For Sale" signs are posted on the property. Sale of land by bid is
				  accomplished in accordance with
				  1 NCAC
				  06B .0304.
(5) Realtors may sell state-owned property if
				  deemed in the best interest of the state. The fee is negotiable but usually is
				  one-half the current rate. All offers, on behalf of the realtor's clients, are
				  presented to the Division of State Property for consideration.
(6) An item is prepared in the Division of
				  State Property for Council of State presentation once an offer to purchase or
				  high bid is received. PO-4, "Report on Findings of the Department of
				  Administration," is prepared and submitted to the State Budget Officer for
				  approval. Each file is documented with details of the disposition.
(7) After the Council of State meeting is
				  held, notification of Council of State action is made to each department or
				  individual involved. With approval of the Governor and Council of State, the
				  transactions are forwarded to the Attorney General's Office with instructions
				  for completion. All legal transactions in connection with a disposition are
				  handled through the Attorney General's Office and all legal documents are
				  prepared in that office. Copy of PO-4 is signed by Secretary for Council of
				  State and returned to Division of State Property for filing.
(8) After deed is delivered, all papers are
				  returned from the Attorney General's Office to Division of State Property with
				  check for the purchase price of the property. The check is sent to the
				  controller, requesting deposit of percentage to the State Land Fund and deposit
				  of net proceeds to the State Treasurer, unless otherwise governed by statute. A
				  copy of the deed is forwarded to the affected agency.
(9) Land inventory data is prepared for
				  computer record.
Authority
					 G.S.
					 143-341(4);
					 146-71;
					 146-15;
					 146-3 to
					 146-14;
					 146-27 to
					 146-30;
Eff. February
					 1, 1976;
Readopted Eff. February 27, 1979;
Amended Eff.
					 August 1, 1988;
Pursuant to
					 G.S.
					 150B-21.3A, rule is necessary without
					 substantive public interest Eff. July 22,
					 2018.