70-30-321. Sale of property acquired for public use when use abandoned -- procedure. (1) Except as provided in subsection (3), whenever a person who has acquired a real property interest for a public use, whether by right of eminent domain or otherwise, abandons the public use and places the property interest for sale, the seller may sell the interest to the highest bidder at public auction.
(2) If the seller decides to sell an interest in real property as set forth in subsection (1), the seller shall publish notice of the public sale in a newspaper published in the county in which the real property is located once a week for 4 successive weeks. The sale must be held in the county where the real property is located. The notice of sale must contain the information required by 77-2-322.
(3) When an interest, other than a fee simple interest, in property that has been acquired for a public purpose by right of eminent domain, or otherwise, is abandoned or when the purpose for which it was acquired is terminated, the property reverts to the original owner or the original owner's successor in interest.
History: En. Sec. 1, Ch. 440, L. 1981; amd. Sec. 1, Ch. 689, L. 1983; amd. Sec. 80, Ch. 125, L. 2001.