77-11b-202. Sale of seized property subject to forfeiture.

281 words·~1 min read·/ut/title-77/chapter-11b/77-11b-202

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

Effective 5/3/2023

(a)Except for property that is required to be retained or preserved under Chapter 11c, Retention of Evidence , the court may order seized property for which a forfeiture proceeding is pending to:

(i)be sold, leased, rented, or operated to satisfy a specified interest of any claimant; or

(ii)preserve the interests of any party on motion of that party.

(b)The court may only enter an order under Subsection (1)(a) after:

(i)written notice to any person known to have an interest in the property has been given; and

(ii)an opportunity for a hearing for any person known to have an interest in the property has occurred.

(a)A court may order a sale of property under Subsection

(1)when:

(i)the property is liable to perish, waste, or be significantly reduced in value; or

(ii)the expenses of maintaining the property are disproportionate to the property's value.

(b)A third party designated by the court shall:

(i)dispose of the property by a commercially reasonable public sale; and

(ii)distribute the proceeds in the following order of priority:

(A)first, for the payment of reasonable expenses incurred in connection with the sale;

(B)second, for the satisfaction of an interest, including an interest of an interest holder, in the order of an interest holder's priority as determined by Title 70A, Uniform Commercial Code ; and

(C)third, any balance of the proceeds shall be preserved in the actual or constructive custody of the court, in an interest-bearing account, subject to further proceedings under this chapter.

Renumbered and Amended by Chapter 448 , 2023 General Session