Collapse to view only § 100.301 - Will the Department review and approve my appraisal or valuation?
- § 100.300 - Must I submit an appraisal or valuation to the Department?
- § 100.301 - Will the Department review and approve my appraisal or valuation?
- § 100.302 - May I request Departmental review of an appraisal even if a qualified appraiser completed the appraisal or valuation?
- § 100.303 - What happens if the Indian tribe or individual Indian does not agree with the appraisal or valuation prepared by their qualified appraiser?
- § 100.304 - Is the Department liable if it approves a transaction for Indian property based on an appraisal or valuation prepared by a qualified appraiser?
§ 100.300 - Must I submit an appraisal or valuation to the Department?
Appraisals and valuations of Indian property must be submitted to us if relied upon or required for transactions requiring Secretarial approval under titles 25 and 43 of the CFR (other than those under the Federal Land Policy and Management Act).
§ 100.301 - Will the Department review and approve my appraisal or valuation?
(a) The Department will not review the appraisal or valuation of Indian property and the appraisal or valuation will be considered final as long as:
(1) The submission acknowledges the intent of the Indian tribe or individual Indian to waive Departmental review and approval;
(2) The appraisal or valuation was completed by a qualified appraiser meeting the requirements of this part; and
(3) No owner of any interest in the Indian property objects to use of the appraisal or valuation without Departmental review and approval.
(b) The Department must review and approve the appraisal or valuation if:
(1) Any of the criteria in paragraph (a) of this section are not met; or
(2) The appraisal or valuation was submitted for:
(i) Purchase at probate under 43 CFR part 30;
(ii) The Land Buy-Back Program for Tribal Nations;
(iii) An acquisition by the United States to which the Uniform Appraisal Standards for Federal Land Acquisitions applies; or
(iv) Specific legislation requiring the Department to review and approve an appraisal or valuation.
§ 100.302 - May I request Departmental review of an appraisal even if a qualified appraiser completed the appraisal or valuation?
If you do not specifically request waiver of Departmental review and approval under § 100.300(a)(1), the Department will review the appraisal or valuation.
§ 100.303 - What happens if the Indian tribe or individual Indian does not agree with the appraisal or valuation prepared by their qualified appraiser?
If the Indian tribe or individual Indian does not agree with the appraisal or valuation prepared by their qualified appraiser, the Indian tribe or individual Indian should not submit the appraisal or valuation under this part.
§ 100.304 - Is the Department liable if it approves a transaction for Indian property based on an appraisal or valuation prepared by a qualified appraiser?
The Department is not liable for any deficient or inaccurate appraisal or valuation provided by the tribe or individual Indian that it did not review or approve, even if the Department approved a transaction for Indian property (including but not limited to a lease, grant, sale, or purchase) based on the appraisal or valuation.