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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

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