N.M. Admin. Code § 19.2.21.9

Current through Register Vol. 35, No. 23, December 10, 2024

Section 19.2.21.9 - EXCHANGE PROPOSALS AND PROCEDURES

A. A proposed exchange may be initiated either by an applicant or by the commissioner.

B. Exchange procedure initiated by applicant:

(1) A party interested in exchanging non-trust land may initiate an exchange procedure by filing with the commissioner an initial application to exchange land on a form prescribed by the commissioner, accompanied by a non-refundable application fee as set forth in the schedule of fees. The initial application shall include the identity and address of the applicant; a legal description of the non-trust lands proposed to be exchanged; the estimated market value of the non-trust lands; the current uses of the non-trust lands; ownership of the non-trust lands; a description of any known environmental or cultural properties issues related to the non-trust lands; a legal description of the trust lands that the applicant seeks to acquire; an estimate of the value of such trust lands; a deposit in an amount determined by the commissioner as sufficient to pay the costs of appraisal of the trust lands and non-trust lands (unless the commissioner has agreed to accept an appraisal or appraisals previously performed or to be performed at the applicant's expense); and such other information as the commissioner may request in writing. The commissioner shall advise the relevant beneficiary institution(s) through written correspondence that an exchange application was received.

(2) Following submission of an initial application, the commissioner will make a determination as to whether further investigation of the suggested exchange is warranted and shall so inform the exchange applicant. If the commissioner determines that the suggested exchange does not offer sufficient potential benefit to the trust, the application will be rejected and the exchange process will terminate.

C. Exchange procedure initiated by the commissioner. The commissioner may make the commissioner's own preliminary determination that an exchange of certain trust lands would result in a financial benefit to the trust. In that case, the commissioner may initiate an exchange process by publishing a request for exchange proposals in accordance with 19.2.21.10 NMAC below.

N.M. Admin. Code § 19.2.21.9

19.2.21.9 NMAC - Rp, 19.2.21.9 NMAC, 06/29/12, Amended by New Mexico Register, Volume XXVII, Issue 12, June 30, 2016, eff. 6/30/2016, Amended by New Mexico Register, Volume XXX, Issue 11, June 11, 2019, eff. 6/11/2019