§171-49 Residence lots: unsold; forfeited; surrendered. Any lot not sold or leased at public auction or drawing, or sold or leased and forfeited, or surrendered after sale or lease with the consent of the board of land and natural resources, which consent is authorized, may, subject to section 171-21, be disposed of by the board as follows:

(1) The board shall hold the lot without disposition for a period of thirty days, during which time, any person otherwise qualified to bid interested in securing the lot may apply therefor in writing.

(2) Upon the expiration of thirty days, if not more than one person has applied for the lot, the board may dispose of the lot to the sole applicant without public auction at not less than the prior upset price; provided that if the lot is one among several available lots and there are more applicants than available lots, this paragraph shall not apply.

(3) If more than one person has applied for the lot, or if there are more applicants than available lots, upon the expiration of thirty days, the board shall by sale or lease dispose of the lot or all of the available lots, as the case may be, at drawing as provided in section 171-15 or at public auction as provided in sections 171-14 and 171-16, at the prior upset price or, if the drawing or public auction is held more than six months after the date of the prior drawing or public auction, at the upset price fixed by a reappraisal. [L 1962, c 32, pt of §2; Supp, §103A-46; HRS §171-49; am L 1970, c 184, §3]