The Commissioners of the Land Office holds both real estate and mineral auctions throughout the year.
The Real Estate Division conducts live auctions annually for the purpose of leasing agricultural lands managed by the Land Office. Bidders bid on the annual rent, with the appraised rent being the minimum acceptable bid.
The Commercial Real Estate Division conducts periodic auctions of leases for commercial purposes such as residential, industrial, or retail development. In addition to commercial leases, land sale auctions are occasionally held at the discretion of the Commissioners of the Land Office. Land sale auctions will be advertised in a brochure that is available in electronic format, and by direct mail. Title 64 requires that the Land Office advertise auctions in a newspaper with county wide circulation in the county where the land is located. All land sales are auctioned at public bid.
Mineral auctions are done through a sealed bid process for a three-year lease term. If bidders are approved by the Land Office, they are able to bid electronically at minerals auctions. If production is achieved, the term of the lease is extended as long as there is production in paying quantities.