Difference between revisions of "Abandonment in Idaho"
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| − | == | + | ==Overview== |
| − | + | :Abandonment generally means giving up rights to something. Abandonment can refer to a few different things depending on the context. | |
| − | + | ==Sources== | |
| − | + | ==Topics== | |
| − | ==Abandoned | + | ===Abandoned Assets in a Trust=== |
| − | A | + | :A Trustee has the power to abandon a trust asset or any interest therein. |
| − | [https://legislature.idaho.gov/statutesrules/idstat/ | + | :[https://legislature.idaho.gov/statutesrules/idstat/Title68/T68CH1/SECT68-106/ Id. Code 68-106(c)(7)]. |
| − | ==Abandoned | + | ===Abandoned Highways or Public Rights-of-Way=== |
| − | [https://legislature.idaho.gov/statutesrules/idstat/Title47/T47CH17/ Idaho Abandoned Mine Reclamation Act 47-1701] | + | :If the highway or public right-of-way parcel to be abandoned and vacated has a fair market value of two thousand five hundred dollars ($2,500) or more, a charge may be imposed upon the acquiring entity, not in excess of the fair market value of the parcel, as a condition of the abandonment and vacation. However, no such charge shall be imposed on the landowner who originally dedicated such parcel to the public for use as a highway or public right-of-way. If the highway or public right-of-way was originally a federal land right-of-way, said highway or public right-of-way shall revert to a federal land right-of-way. |
| + | |||
| + | :Any order or resolution is to be recorded in the county records and the official map of the highway system is to be amended as affected by the abandonment and vacation. | ||
| + | |||
| + | :[https://legislature.idaho.gov/statutesrules/idstat/Title40/T40CH2/SECT40-203/ Id. Code 40-203(1)(h)(i-j)]. | ||
| + | |||
| + | ===Abandoned Homestead=== | ||
| + | |||
| + | :A homestead is presumed abandoned if the owner vacates the property for a continuous period of at least six (6) months. However, if an owner is going to be absent from the homestead for more than six (6) months but does not intend to abandon the homestead, and has no other principal residence, the owner may execute and acknowledge, in the same manner as a grant of real property is acknowledged, a declaration of nonabandonment of homestead and file the declaration for record in the office of the recorder of the county in which the property is situated. | ||
| + | |||
| + | :[https://legislature.idaho.gov/statutesrules/idstat/Title55/T55CH10/SECT55-1006/ Id. Code 55-1006]. | ||
| + | |||
| + | ===Abandoned Mines=== | ||
| + | |||
| + | :[https://legislature.idaho.gov/statutesrules/idstat/Title47/T47CH17/ Idaho Abandoned Mine Reclamation Act 47-1701] | ||
| + | |||
| + | ==Forms== | ||
| + | |||
| + | ==Search== | ||
| + | |||
| + | ==Examination== | ||
| + | |||
| + | ==Underwriting== | ||
| + | |||
| + | ==Other== | ||
==Cross-References== | ==Cross-References== | ||
| − | [https://uww.wfgnationaltitle.com/index.php/Idaho Idaho] | + | :[https://uww.wfgnationaltitle.com/index.php/Idaho Idaho] |
Latest revision as of 09:22, 19 October 2018
Contents
Overview
- Abandonment generally means giving up rights to something. Abandonment can refer to a few different things depending on the context.
Sources
Topics
Abandoned Assets in a Trust
- A Trustee has the power to abandon a trust asset or any interest therein.
Abandoned Highways or Public Rights-of-Way
- If the highway or public right-of-way parcel to be abandoned and vacated has a fair market value of two thousand five hundred dollars ($2,500) or more, a charge may be imposed upon the acquiring entity, not in excess of the fair market value of the parcel, as a condition of the abandonment and vacation. However, no such charge shall be imposed on the landowner who originally dedicated such parcel to the public for use as a highway or public right-of-way. If the highway or public right-of-way was originally a federal land right-of-way, said highway or public right-of-way shall revert to a federal land right-of-way.
- Any order or resolution is to be recorded in the county records and the official map of the highway system is to be amended as affected by the abandonment and vacation.
Abandoned Homestead
- A homestead is presumed abandoned if the owner vacates the property for a continuous period of at least six (6) months. However, if an owner is going to be absent from the homestead for more than six (6) months but does not intend to abandon the homestead, and has no other principal residence, the owner may execute and acknowledge, in the same manner as a grant of real property is acknowledged, a declaration of nonabandonment of homestead and file the declaration for record in the office of the recorder of the county in which the property is situated.
