25 C.F.R. § 162.422

Current through October 31, 2024
Section 162.422 - How will BIA determine fair market rental for a business lease?
(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.

25 C.F.R. § 162.422