Sale of Public Administration Assets
To provide an overview of the Estate Sale process for Public Administration assets, we are providing the information below. This overview should not be considered all inclusive and may change without notice. For additional details on Public Administration, please review Title 14 and Title 15 of the Idaho Code.
Assets held on behalf of a Public Administration case are required to be converted into money in accordance with Idaho Code §14-105.
The ex officio Public Administrator acts in a fiduciary capacity and as such must observe the standards of care as described in Idaho Code §15-7-302. In that regard, estate assets are valued at fair market value.
The Treasurer, at her sole discretion and in her capacity as ex-officio Public Administrator of the Estate, shall have the authority to accept any official offer for the purchase of said assets. In addition, she further reserves the right to reject any and all official offers, as well as, waive certain fees, etc.
In order to obtain appropriate counsel regarding applicable state and local laws and/or other legal obligations/considerations associated with the purchase of referenced assets, prospective buyers are encouraged to meet with an attorney.
Public Administration assets are subject to the terms and conditions provided within the purchase agreement. Listed below are examples of some of the terms and conditions required:
- The buyer would be solely responsible for all costs associated with the move and relocation of said property. In addition, the buyer would be likewise responsible for any and all damages incurred during the removal of the assets from its storage location;
- Ada County, the Ada County Treasurer’s Office, as well as, Elizabeth Mahn, Treasurer and ex officio Public Administrator for the Estate make no representations or guarantees with respect to the overall condition or working order of the property or contents of the property being sold. In addition, the property being sold is untested and being offered for sale “AS IS” and “WHERE IS” with no express or implied warranties or representations; and
- All transfer fees and taxes, registration fees, relocation of property expenses, title fees, licensing fees, etc. shall be the sole responsibility of the Buyer. Buyer has seven (7) business days to complete transfer of title, deed, registration, etc.