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Current as of October 02, 2022 | Updated by FindLaw Staff
Acquisition of a fractional land interest by an individual Indian or a tribe in trust status can be approved by the Secretary only if:
(a) The buyer already owns a fractional interest in the same parcel of land; or
(b) The interest being acquired by the buyer is in fee status; or
(c) The buyer offers to purchase the remaining undivided trust or restricted interests in the parcel at not less than their fair market value; or
(d) There is a specific law which grants to the particular buyer the right to purchase an undivided interest or interests in trust or restricted land without offering to purchase all of such interests; or
(e) The owner of a majority of the remaining trust or restricted interests in the parcel consent in writing to the acquisition by the buyer.
Cite this article: FindLaw.com - Code of Federal Regulations Title 25. Indians § 25.151.7 Acquisition of fractional interests - last updated October 02, 2022 | https://codes.findlaw.com/cfr/title-25-indians/cfr-sect-25-151-7/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature or via Westlaw before relying on it for your legal needs.
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