Sec. 2132a.
If land is proposed for purchase or sale by or exchange with the department under this act based on its appraised value, if 2 or more appraisals of the land that meet department standards are made on behalf of the parties to the proposed transaction, and if the high appraisal is less than 10% higher than the low appraisal, the accepted value for purposes of the purchase, sale, or exchange shall be the average of all the appraised values. If the high appraisal is at least 10% higher than the low appraisal, the parties may agree upon a new appraiser, whose appraisal, or determination based on review of the existing appraisals, shall be the accepted value for purposes of the purchase, sale, or exchange. The department is responsible for the new appraiser's fee.
History: Add. 2018, Act 238, Eff. Sept. 25, 2018 Popular Name: Act 451Popular Name: NREPA
Copyright ©2024 LegalFix. All rights reserved. LegalFix is not a law firm, is not licensed to practice law, and does not provide legal advice, services, or representation. The information on this website is an overview of the legal insurance products you can purchase—or that may be provided by your employer as an employee benefit or by your credit union or other membership group as a membership benefit.
LegalFix provides its members with access to legal services through a network of provider law firms. LegalFix, its corporate entity, and its officers, directors, employees, agents, and contractors do not provide legal advice, services, or representation—directly or indirectly.
The articles and information on the site are not legal advice and should not be relied upon—they are for information purposes only. You should become a LegalFix member to get legal services from one of our provider law firms.
You should not disclose confidential or potentially incriminating information to LegalFix—you should only communicate such information to your provider law firm.
The benefits and legal services described in the LegalFix legal plans are not always available in all states or with all plans. See the legal plan Benefit Overview and the more comprehensive legal plan contract during checkout for coverage details in your state.
Use of this website, the purchase of legal insurance products, and access to the LegalFix network of provider law firms are subject to the LegalFix Terms of Service and Privacy Policy.
