Section 286-27-055. Are there long-term obligations for acquiring interest in real property?

Yes. Sponsors must execute an instrument(s) containing these provisions:

(1) For acquisition of perpetual interest in real property:

(a) A legal description of the property acquired;

(b) A conveyance to the state of Washington of the right to use the described real property for farmland, habitat conservation, and/or outdoor recreation purposes; and

(c) Except as provided in WAC 286-27-066, agreement to a prohibition on conversion of use.

(2) For acquisition of nonperpetual interest in real property:

(a) A legal description of the property and a description of the interests acquired;

(b) A conveyance to the state of Washington of the right to use the described real property for farmland, habitat conservation, and/or outdoor recreation purposes for the term of the lease or easement;

(c) Except as provided in WAC 286-27-066, agreement to a prohibition on conversion of use;

(d) A lease(s) or easement(s) period of at least fifty years except for:

(i) Farmlands preservation account projects which shall be for at least twenty-five years; or

(ii) Projects that extend conservation reserve enhancement program leases which shall be for at least twenty-five years.

(e) Is not revocable at will;

(f) Has a value supported through appraisal methods approved by the board; and

(g) Terms of payment between the sponsor and seller.

[Statutory Authority: 2007 c 241 § 39, RCW 34.05.220, 34.05.230, 42.56.040, 79A.15.030, 79A.15.060, 79A.15.070, 79A.15.120, and 79A.15.130. WSR 14-09-074, § 286-27-055, filed 4/18/14, effective 5/19/14. Statutory Authority: RCW 79A.15.030(8), 79A.15.060(1), 79A.15.070(5), 79A.15.120(4), 79A.15.130(4). WSR 06-05-025, § 286-27-055, filed 2/7/06, effective 3/10/06. Statutory Authority: RCW 43.98A.060(1). WSR 98-08-014, § 286-27-055, filed 3/18/98, effective 4/18/98. Statutory Authority: RCW 43.98A.060(1), 43.98A.070(5), 43.99.080(2), 46.09.240(1) and 77.12.720(4). WSR 96-08-044, § 286-27-055, filed 3/29/96, effective 4/29/96.]

2007 c 241 § 39, RCW 34.05.220, 34.05.230, 42.56.040, 79A.15.030, 79A.15.060, 79A.15.070, 79A.15.120, and 79A.15.130. WSR 14-09-074, § 286-27-055, filed 4/18/14, effective 5/19/14. Statutory Authority: RCW 79A.15.030(8), 79A.15.060(1), 79A.15.070(5), 79A.15.120(4), 79A.15.130(4). WSR 06-05-025, § 286-27-055, filed 2/7/06, effective 3/10/06. Statutory Authority: RCW 43.98A.060(1). WSR 98-08-014, § 286-27-055, filed 3/18/98, effective 4/18/98. Statutory Authority: RCW 43.98A.060(1), 43.98A.070(5), 43.99.080(2), 46.09.240(1) and 77.12.720(4). WSR 96-08-044, § 286-27-055, filed 3/29/96, effective 4/29/96.

Rules

286-27-066,286-27-066,