The publication and award procedures set forth in this article shall not be applicable to any of the following:
(a) The sale of an undivided or fractional ownership interest in real property.
(b) A sale of a right of use in real property that is less than fee ownership.
(c) A sale of real property subject to title conditions or restrictions on the university’s ownership deriving from the origin of that ownership by gift, devise, or otherwise, if that sale would be inconsistent with those title conditions or restrictions.
(d) The disposition of real property acquired through exercise of a power of sale pursuant to a deed of trust, foreclosure, deed in lieu of foreclosure, transactions when property is accepted in settlement of a defaulted mortgage, legal settlement, or held as an asset in the university’s investment portfolio.
(e) A sale of public lands under the direction of the federal land agent.
(f) A sale to a person or entity who will dedicate the real property to public use.
(g) A sale of real property acquired after January 1, 1985, through eminent domain proceedings initiated by the Regents of the University of California. In those cases, the person from whom the property was acquired shall be notified and be accorded an exclusive opportunity for 90 days to purchase the property at its fair market value. If the person fails to undertake proceedings to purchase the property within 90 days, the procedures specified in Sections 10511 and 10512 shall then be followed in the sale of the property.
(h) An exchange to acquire real property of another person or entity for university purposes. Any exchange shall be upon terms and conditions agreed to by the exchanging parties.
(Amended by Stats. 2014, Ch. 361, Sec. 3. (AB 2726) Effective January 1, 2015.)
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