25 CFR 162.551
§ 162.551 How will BIA determine fair market rental for a WSR lease?
United States · 25 CFR — Indians · Status: effective
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- Citation
- 25 CFR 162.551, § 162.551 How will BIA determine fair market rental for a WSR lease?, United States, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/105649
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Full text
(a) We will use a market analysis, appraisal, or other appropriate valuation method to determine the fair market rental before we approve a WSR lease of individually owned Indian land or, at the request of the tribe, for tribal land.
(b) We will either:
(1) Prepare, or have prepared, a market analysis, appraisal, or other appropriate valuation method; or
(2) Use an approved market analysis, appraisal, or other appropriate valuation method from the Indian landowners or lessee.
(c) We will use or approve use of a market analysis, appraisal, or other appropriate valuation method only if it:
(1) Has been prepared in accordance with USPAP or a valuation method developed by the Secretary under 25 U.S.C. 2214; and
(2) Complies with Department policies regarding appraisals, including third-party appraisals.
(d) Indian landowners may use competitive bidding as a valuation method.
Legislative history
This is a federal regulation, adopted through agency rulemaking under the Administrative Procedure Act — not enacted by a recorded vote of Congress.