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Residential Leasing and Mortgaging on Indian Lands

Residential Leasing and Mortgaging on Indian Lands. New Mexico Housing Summit August 21, 2014. Regulations. 25 CFR § 162 Updated December 5, 2012. Subpart C – Residential Leasing. General Provisions §§162.301 – 162.303 Lease Requirements §§162.311 – 162.317 Rental Requirements

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Residential Leasing and Mortgaging on Indian Lands

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  1. Residential Leasing and Mortgaging on Indian Lands New Mexico Housing Summit August 21, 2014

  2. Regulations 25 CFR § 162 Updated December 5, 2012

  3. Subpart C – Residential Leasing • General Provisions • §§162.301 – 162.303 • Lease Requirements • §§162.311 – 162.317 • Rental Requirements • §§162.320 – 162.329 • Bonding and Insurance • §§162.334 – 162.337

  4. Subpart C – Residential Leasing • Approval • §§162.338 – 162.344 • Amendments • §§162.345 – 162.348 • Assignments • §§162.349 – 162.352 • Subleases • §§162.353 – 162.356

  5. Subpart C – Residential Leasing • Leasehold Mortgages • §§162.357 – 162.360 • Effectiveness, Compliance, and Enforcement • §§162.361 – 162.374

  6. Requirements • Legal Description – §162.317 • Reference public or private survey, or • Legal description • Survey-grade GPS • Registered land surveyor • Rent – §162.320 • Amount determined by the tribe to be in its best interest • Appraisal at the request of the tribe • Tribe not bound by the appraised FMV

  7. Approval • Required documents – §162.338 • Lease • Tribal authorization • Valuation (if required) • Environmental clearance • Legal description • Lease Review – §162.339 • May be requested prior to submittal for approval • 10 days to review

  8. Approval • Approval Process – §162.340 • Best interest of the Indian landowners • Review lease & supporting documents • Ensure compliance with applicable laws • “Promptly” notify if package is complete • If incomplete, letter to tribe identifying missing documents • If complete, BIA notifies tribe of date of receipt • 30 days to approve or disapprove

  9. Approval • BIA Decision-making Process – §162.341 • Approval unless: • Required consents not obtained • Subpart requirements not met • Protect best interest of landowner • Recording of Lease – §162.343 • Any residential lease, amendment, assignment, or leasehold mortgage must be recorded in the DLTR • Residential subleases need not be recorded

  10. Leasehold Mortgage • Consent Requirement – §162.358 • Unless stated in lease, consent is required • Approval Process – §162.359 • BIA notifies tribe when package received • 20 days to approve or disapprove

  11. Leasehold Mortgage • BIA Decision-making Process – §162.360 • Approval unless: • Required consents not obtained • Subpart requirements not met • Protect best interest of landowner • NOTE: Contact your local BIA agency early in the process because Environmental review, Section 106 concurrence, and TSR all take time.

  12. Realty’s Steps • What happens when BIA receives a lease? • Review per 25 CFR 162 • Request approval from Regional Director • Encode into electronic system of record • Image into electronic system of record • TIR log updated • DLTR takes over

  13. Contacts

  14. The End

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