Section 222.631 — Definitions.

222.631 DEFINITIONS. Subdivision 1. Terms. For purposes of sections 222.631 and 222.632, the following terms have the meanings given them. Subd. 2. Fair market value. “Fair market value” means the price negotiated between the parties under section 222.632, or the market value of the property minus the value of any leasehold improvements, as determined by […]

Section 222.632 — Right Of First Refusal.

222.632 RIGHT OF FIRST REFUSAL. A railroad interest that is in bankruptcy proceedings may not sell or offer for sale an interest in real property that is within the right-of-way, a railroad interest that is abandoning a railroad line may not sell or offer for sale an interest in real property within the right-of-way to […]