1-1-27 . The provisions of § 1-1-27 do not apply: (1) If the transfer is the result of an eminent domain proceeding; or (2) If the transfer is a sale negotiated under threat of an eminent domain proceeding or under circumstances in which acquisition of the property by an eminent domain proceeding would be justified; or (3) If the transfer involves less than forty acres of unimproved land or less than five hundred thousand dollars worth of improved real estate; or (4) If the transfer involves the trade of tracts of land of substantially equal value between the state government or any of its entities and the federal government or any of its entities.
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