1. When the board of trustees proposes to exchange real property, the board shall appoint one appraiser. The owner of the other real property proposed to be exchanged shall appoint one appraiser. A third appraiser shall be appointed by the Superintendent of Public Instruction. 2. The appraisers shall make a report to the board of trustees of their findings and determinations of the cash market value of the real properties proposed to be exchanged. 3. The exchange of real property shall be made only at the values fixed by the appraisers. If the real properties sought to be exchanged are not of equal value, the owner of the parcel of real property of lesser value shall pay in money to the owner of the parcel of real property of greater value the difference. 4. The compensation of the appraisers shall be fixed by the board of trustees, and shall be a legal charge against the school district.
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