§ 162.515. How must a WEEL address ownership of permanent improvements?
173 words·~1 min read·
/us/cfr/t25/s§ 162.515·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(a)A WEEL must specify who will own any permanent improvements the lessee installs during the lease term. In addition, the WEEL must indicate whether any permanent improvements the lessee installs:
(1)Will remain on the premises upon expiration, termination, or cancellation of the lease whether or not the WEEL is followed by a WSR lease, in a condition satisfactory to the Indian landowners;
(2)May be conveyed to the Indian landowners during the WEEL term and under what conditions the permanent improvements may be conveyed;
(3)Will be removed within a time period specified in the WEEL, at the lessee's expense, with the leased premises to be restored as closely as possible to their condition before installation of the permanent improvements; or
(4)Will be disposed of by other specified means.
(b)A WEEL that requires the lessee to remove the permanent improvements must also provide the Indian landowners with an option to take possession and title to the permanent improvements if the improvements are not removed within the specified time period.