(a) It shall be lawful for the county court of any county in which any permanent school lands and lots, as defined in § 22-6-111, are situated to order the lands or lots sold at public auction by the sheriff, in legal subdivisions, upon the application of any person who may desire to purchase the lands or lots and who will deposit with the clerk of the court a sum sufficient to pay the costs of the appraisement, the estimate of the timber thereof, if any, and its commercial value, the survey thereof if one is necessary, and the advertisement and other costs of sale.
(b) The applicant shall also file a written guaranty that he or she will bid at the sale at least two dollars and fifty cents ($2.50) per acre if the acreage is land and the full appraised value if the acreage is in lots.
(c) The applicant shall not, by reason of his or her application and deposit, acquire any preference right to purchase the land or lots at the sale, but when the sale of the land or lots is approved, the deposit so made shall be repaid out of the purchase price whether the applicant is the purchaser or not, except that if the lands should not be sold because of the failure of the applicant to make and complete his or her guaranty bid, the deposit made by him or her for the cost of sale shall be forfeited and not repaid.
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 plans 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 easy access to affordable legal services through a network of independent 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 network law firms.
You should not disclose confidential or potentially incriminating information to LegalFix—you should only communicate such information to your network 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 plans, and access to the LegalFix networks of law firms are subject to the LegalFix Terms of Service and Privacy Policy.