Tennessee Attorney General Reports and Opinions V. 1989

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1989 Tennessee Attorney General Reports and Opinions 1 (1989)

handle is hein.sag/sagtn0083 and id is 1 raw text is: OPINIONS OF THE ATTORNEY GENERAL OF TENNESSEE
Published by the Authority of Chapter 276
Public Acts of 1971
January 1989
89-11 APPRAISAL: When prior owners or heirs have been given
the first right of refusal to purchase property
acquired for the interstate and defense highway system
and have refused to purchase the property, the
property may be sold to another person by the
Commissioner of Finance and2 Administration, or in
certain cases, by the Commissioner of Transportation,
with the approval of the Governor and Attorney
General, at the current appraised market value or for
a greater amount bid; the authority granted to the
Commissioner of Transportation in T.C.A.
S12-2-112(a)(9) is operative only when the sale of
such property (with a fair market value not exceeding
$10,000.00) is to a prior owner or an adjoining owner.
otherwise, T.C.A. 512-2-112(a)(8) controls when the
property is interstate and defense highway system
surplus property; fair market value is determined by
an appraisal; current appraised market value and
fair market value are synonymous. T.C.A. S12-2-112,
S54-3-102; 1953 Tenn. Pub. Acts 258, 1984 Tenn. Pub.
Acts 790, 1986 Tenn. Pub. Acts 816.
89-11 ATTORNET GENERAL AND REPORTER: When prior owners or
heirs have been given the first right of refusal to
purchase property acquired for the interstate and
defense highway system and have refused to purchase
the property, the property may be sold to another
person by the Commissioner of Finance and
Administration, or in certain cases, by the
Commissioner of Transportation, with the approval of
the Governor and Attorney General, at the current
appraised market value or for a greater amount bid;
the authority granted to the Commissioner of
Transportation in T.C.A. S12-2-112(a)(9) is operative
only when the sale of such property (with a fair
msrket value not exceeding $10,000.00) is to a prior
owner or an adjoiningowner, otherwise, T.C.A.
S12-2-112(a)(8) controls when the property is
interstate and defense highway system surplus
property; fair market value is determined by an