What are trust lands?
Trust lands are parcels of land granted by Congress to Utah at statehood to support specific beneficiaries, including public schools, universities, hospitals, and reservoirs. Trust lands are not public lands, but are generally open for public use, when possible. Trust lands were allocated specifically to generate revenue to support our beneficiaries. SITLA currently manages 3.4 million surface acres on behalf of our beneficiaries.
ONLINE BIDDING INFORMATION:
Bid Start Time for this Parcel: 10am (MT) November 4, 2021
Bid End Time for this Parcel: 11:30am (MT) November 10, 2021
The closing costs are in addition to the 10% down payment. The cultural resources survey costs may be financed, upon approval. All other closing costs are due from the prevailing bidder at the auction and cannot be financed.
The net proceeds from the sale of this property will be deposited into the permanent fund for the beneficiary of Public Schools.
Township 18 South, Range 1 West, SLB&M
Section 21: NW4SE4
The property is located on the southwest side of Yuba Reservoir, about 3 miles west of the town of Fayette.
Legal and physical access to the property is from a gravel county-claimed road.
The topography of the parcel is sloping from east to west with rolling hills. Vegetation is mostly sage brush and native grasses with some scattered Pinyon Juniper trees. The Piute Canal cuts through the property.
40.00 Acres, More or Less
No water rights will be included with this property.
Utilities are located near the parcel.
SL (with a 5 acre minimum to build)
Financing will be offered for this parcel at a variable interest rate of prime plus 2.5% or 7.5%, whichever is greater. A down payment of 10% and closing costs will be due at the auction. The remaining balance can be financed for up to a 20 year term.
Cultural Resource Covenant:
A cultural resource survey was conducted on this parcel. No significant sites were identified. The parcel will be sold without any cultural reservations.
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