<html> <head> <title>Rule 04:01:08:01 Definitions.</title> <META NAME="Keywords" Content="Administrative Rules 04:01:08:01"> <META NAME="Description" Content="Administrative Rules 04:01:08:01 Definitions."> <meta name=Generator content="Microsoft Office HTML Filter 2.0"> <meta http-equiv=Content-Type content="text/html; charset=windows-1252"> <meta name=Originator content="Microsoft Word 10"> <style> <!-- --> </style> </head> <body lang=EN-US> <div> <p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <b>4:01:08:01.&nbsp;&nbsp;Definitions.</b> Terms used in this chapter mean:</p> <p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1)&nbsp;&nbsp;&quot;Appraisal or appraisal report,&quot; a written statement independently and impartially prepared by a qualified appraiser setting forth an opinion as to the market value as of a specific date, supported by the presentation and analysis of relevant market information;</p> <p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (2)&nbsp;&nbsp;&quot;Approximate equal value,&quot; a comparative estimate of value of the lands involved in an exchange which have readily apparent and substantially similar elements of value, including location, size, use, and physical characteristics;</p> <p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (3)&nbsp;&nbsp;&quot;Assembled land exchange,&quot; an exchange of state land for a package of multiple ownership parcels or nonstate land consolidated for purposes of one land exchange transaction;</p> <p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (4)&nbsp;&nbsp;Cash equalization,&quot; the difference in value between the lands being exchanged that is paid in cash;</p> <p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (5)&nbsp;&nbsp;&quot;Commissioner,&quot; the commissioner of school and public lands;</p> <p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (6)&nbsp;&nbsp;&quot;Outstanding interest,&quot; rights or interest in property held by an entity other than a party to an exchange.</p> <p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <b>Source:</b> 26 SDR 99, effective February 3, 2000.</p> <p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <b>General Authority:</b> SDCL <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=5-3-7">5-3-7.</A></p> <p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <b>Law Implemented:</b> SDCL <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=5-3-7">5-3-7.</A></p> </div> </body> </html>