§ 162.422. How will BIA determine fair market rental for a business lease?
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/us/cfr/t25/s§ 162.422·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(a)We will use a market analysis, appraisal, or other appropriate valuation method to determine the fair market rental before we approve a business 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 Departmental policies regarding appraisals, including third-party appraisals.
(d)Indian landowners may use competitive bidding as a valuation method.
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§ 162.422
How will BIA determine fair market rental for a business lease?
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