2006 New York Code - Exchange Of Unappropriated State Lands

 
    § 40. Exchange  of  unappropriated  state lands.   The commissioner of
  general services may, from time to time, exchange a part or all  of  any
  parcel  or  parcels  of  unappropriated  state  lands  for real property
  required by or of benefit to the state of New York and in which title is
  held by the United States of America or a  city,  incorporated  village,
  town  or  county  when  the  combined value of such unappropriated state
  lands and required real property does not exceed five  hundred  thousand
  dollars.  An  appraisal of the value of the real property to be acquired
  by the state and of the property to be conveyed by the  state  shall  be
  completed  by  a  qualified  professional  real estate appraiser. If the
  value of either property is in excess of one hundred  thousand  dollars,
  two appraisals of that property shall be required prior to the exchange.
  The  terms  and  conditions  of  such  exchange,  including any monetary
  consideration to  be  paid  to  equalize  the  value  of  such  exchange
  properties,  shall  be  subject  to  the  prior  approval  of  the state
  comptroller. The attorney general shall approve the title to  the  lands
  to be thus acquired by the state.