§ 166.226. May the holder of a leasehold mortgage assign the leasehold interest after a sale or foreclosure of an approved encumbrance?
61 words·~1 min read·
/us/cfr/t25/s§ 166.226·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Yes. The holder of a leasehold mortgage may assign a leasehold interest obtained by a sale or foreclosure of an approved encumbrance without our approval if the assignee agrees in writing to be bound by the terms of the permit. A permit may provide the Indian landowners with a right of first refusal on the conveyance of the permit interest (leasehold).