Residential leasing and mortgaging on indian lands
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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

Residential Leasing and Mortgaging on Indian Lands

New Mexico Housing Summit

August 21, 2014


Regulations

Regulations

25 CFR § 162

Updated December 5, 2012


Subpart c residential leasing

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


Subpart c residential leasing1

Subpart C – Residential Leasing

  • Approval

  • §§162.338 – 162.344

  • Amendments

  • §§162.345 – 162.348

  • Assignments

  • §§162.349 – 162.352

  • Subleases

  • §§162.353 – 162.356


Subpart c residential leasing2

Subpart C – Residential Leasing

  • Leasehold Mortgages

  • §§162.357 – 162.360

  • Effectiveness, Compliance, and Enforcement

  • §§162.361 – 162.374


Requirements

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


Approval

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


Approval1

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


Approval2

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


Leasehold mortgage

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


Leasehold mortgage1

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.


Realty s steps

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


Contacts

Contacts


The end

The End


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