Section 103.3 – Sale of seized property.

• (1)
  • (a) Subject to Subsection (2) and Title 53, Chapter 20, Forensic Biological Evidence Preservation, 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 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.

• (2)
  • (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.

Amended by Chapter 120, 2022 General Session