[Code of Federal Regulations]
[Title 36, Volume 1]
[Revised as of July 1, 2001]
From the U.S. Government Printing Office via GPO Access
[CITE: 36CFR18.13]

[Page 234]
 
              TITLE 36--PARKS, FORESTS, AND PUBLIC PROPERTY
 
      CHAPTER I--NATIONAL PARK SERVICE, DEPARTMENT OF THE INTERIOR
 
PART 18--LEASES AND EXCHANGES OF HISTORIC PROPERTY--Table of Contents
 
Sec. 18.13  Exchanges for historic property.

    (a) After consultation with the Advisory Council on Historic 
Preservation, the Secretary, consistent with other legal requirements or 
other legal authorities, may exchange any property owned by the United 
States of America under his administration for any non-federally owned 
historic property located within the authorized boundaries of an 
existing unit of the National Park System, if he has determined that 
such exchange will adequately ensure preservation of the historic 
property and subject to the requirements of Sec. 18.3 of this part.
    (b) The exchange of the two properties must be on the basis of 
approximately equal fair market value established by the approved 
appraisal reports of the agency. The Secretary may accept cash from or 
pay cash to the grantor in an exchange, in order to equalize the values 
of the properties exchanged.
    (c) Title to the non-Federal property to be received in exchange 
must be free and clear of encumbrances and/or liens.
    (d) Prior to consummation of any exchange, the Secretary shall 
evaluate the Federal land to be exchanged, and shall reserve such 
interests as necessary to protect the purposes for which the unit of the 
National Park System was established. The grantor of property to the 
Federal Government may reserve only such rights as are compatible with 
the purposes for which it is being acquired as determined by the 
Secretary. Appraisal of fair market values must reflect any reservations 
or restrictions.