§ 151.6. May the Secretary approve acquisition of a fractional interest?
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/us/cfr/t25/s§ 151.6·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Where the mandatory acquisition process provided under 25 U.S.C. 2216(c) is not applicable to a fractional interest acquisition, e.g., where the acquisition proposed is off-reservation, the following section applies to discretionary acquisitions of fractional interests. The Secretary may approve the acquisition of a fractional interest in a fractionated tract in trust status by an individual Indian or a Tribe including when:
(a)The applicant already owns a fractional interest in the same parcel of land;
(b)The interest being acquired by the applicant is in fee status;
(c)The applicant offers to purchase the remaining undivided trust or restricted interests in the parcel at not less than their fair market value;
(d)There is a specific law which grants to the applicant the right to purchase an undivided interest or interests in trust or restricted land without offering to purchase all such interests; or
(e)The owner or owners of more than fifty percent of the remaining trust or restricted interests in the parcel consent in writing to the acquisition by the applicant.
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§ 151.6
May the Secretary approve acquisition of a fractional interest?
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