Who is responsible for determining the value of trust land for a lease?
The Office of Appraisal Services, within OST, is responsible for Indian land valuations. These appraisals provide impartial estimates of market value for a variety of real property interests on land owned in trust or restricted status. Various Indian trust land transactions require valuations to ensure that fair and just compensation is received by the rightful owner(s). Appraisals establish the minimum value to be paid for a trust transaction, unless waived by the property owner. Higher prices can always be negotiated by the owner or BIA.
Related Questions
- Would MH construction projects on Indian trust land be considered even the lease terms on trust land can only be for 50 years (25 years with renewable provisions for an additional 25)?
- When determining land value, is an easement or an electricity encumbrance on land (voltage lines) considered an encumbrance?
- Who is responsible for determining the value of trust land for a lease?
