69-14-931. Definitions.
95 words·~1 min read·
/mt/title-69/chapter-14/part-9/69-14-931·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
69-14-931 . Definitions. As used in 69-14-932 and this section, the following definitions apply:
(1)"Fair market value" means:
(a)the price negotiated between the parties under 69-14-932 ; or
(b)the appraised value as determined by a certified appraisal under 69-14-932 .
(2)"Leaseholder" means a person who holds a lease or permit with respect to land adjacent to a railroad right-of-way and who has constructed or owns buildings on the land that have an appraised value of $5,000 or more.
(3)"Right-of-way" means land upon which a railroad has or has had tracks.