Purchase and Sale of Real Property

Informational Memo

Published: October 28, 2018

Purchase and Sale of Real Property
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This material contains general information; it should not be used as a substitute for legal advice. Any attorney general opinions cited in this material are available on request from the League’s Research and Information Service staff.

Understand the statutory authority of cities to acquire and dispose of real estate, including by sales, purchases, and alternatives such as gifts, leases, dedication, contract for deed, lease-purchase and others. Be alert to common issues in transactions such as environmental considerations, deed restrictions, trust land, permissions to buy and sell, use of eminent domain, and more.