residential leasing and mortgaging on indian lands
Download
Skip this Video
Download Presentation
Residential Leasing and Mortgaging on Indian Lands

Loading in 2 Seconds...

play fullscreen
1 / 15

Residential Leasing and Mortgaging on Indian Lands - PowerPoint PPT Presentation


  • 78 Views
  • Uploaded on

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

loader
I am the owner, or an agent authorized to act on behalf of the owner, of the copyrighted work described.
capcha
Download Presentation

PowerPoint Slideshow about 'Residential Leasing and Mortgaging on Indian Lands' - rane


An Image/Link below is provided (as is) to download presentation

Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author.While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server.


- - - - - - - - - - - - - - - - - - - - - - - - - - E N D - - - - - - - - - - - - - - - - - - - - - - - - - -
Presentation Transcript
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
ad