[Code of Federal Regulations]
[Title 43, Volume 2]
[Revised as of October 1, 2002]
From the U.S. Government Printing Office via GPO Access
[CITE: 43CFR2201.1]

[Page 66-67]
 
                    TITLE 43--PUBLIC LANDS: INTERIOR
 
    CHAPTER II--BUREAU OF LAND MANAGEMENT, DEPARTMENT OF THE INTERIOR
 
PART 2200--EXCHANGES: GENERAL PROCEDURES--Table of Contents
 
             Subpart 2201--Exchanges--Specific Requirements
 
Sec. 2201.1  Agreement to initiate an exchange.


    (a) Exchanges may be proposed by the Bureau of Land Management or by 
any person, State, or local government. Initial exchange proposals 
should be directed to the authorized officer responsible for the 
management of Federal lands involved in an exchange.
    (b) To assess the feasibility of an exchange proposal, the 
prospective parties may agree to obtain a preliminary estimate of the 
values of the lands involved in the proposal. The preliminary estimate 
is generally not an appraisal but shall be prepared by a qualified 
appraiser.
    (c) If the authorized officer agrees to proceed with an exchange 
proposal, a nonbinding agreement to initiate an exchange shall be 
executed by all prospective parties. At a minimum, the agreement shall 
include:
    (1) The identity of the parties involved in the proposed exchange 
and the status of their ownership or ability to provide title to the 
land;
    (2) A description of the lands or interest in lands being considered 
for exchange;
    (3) A statement by each party, other than the United States and 
State and local governments, certifying that the party is a citizen of 
the United States or a corporation or other legal entity subject to the 
laws of the United States or a State thereof;
    (4) A description of the appurtenant rights proposed to be exchanged 
or reserved; any authorized uses including grants, permits, easements, 
or leases; and any known unauthorized uses, outstanding interests, 
exceptions, adverse claims, covenants, restrictions, title defects or 
encumbrances;
    (5) A time schedule for completing the proposed exchange;
    (6) An assignment of responsibility for performance of required 
functions and for costs associated with processing the exchange;
    (7) A statement specifying whether compensation for costs assumed 
will be allowed pursuant to the provisions of Sec. 2201.1-3 of this 
part;
    (8) Notice of any known release, storage, or disposal of hazardous 
substances on involved Federal or non-Federal lands, and any commitments 
regarding responsibility for removal or other remedial actions 
concerning such substances on involved non-Federal lands. All such terms 
and conditions regarding non-Federal lands shall be included in a land 
exchange agreement pursuant to Sec. 2201.7-2 of this part;
    (9) A grant of permission by each party to conduct a physical 
examination of the lands offered by the other party;
    (10) The terms of any assembled land exchange arrangement, pursuant 
to Sec. 2201.1-1 of this part;
    (11) A statement as to any arrangements for relocation of any 
tenants occupying non-Federal land, pursuant to Sec. 2201.8 (c)(1)(iv) 
of this part;
    (12) A notice to an owner-occupant of the voluntary basis for the 
acquisition of the non-Federal lands, pursuant to Sec. 2201.8 (c)(1)(iv) 
of this part; and
    (13) A statement as to the manner in which documents of conveyance 
will be exchanged, should the exchange proposal be successfully 
completed.
    (d) Unless the parties agree to some other schedule, no later than 
90 days from the date of the executed agreement to initiate an exchange, 
the parties shall arrange for appraisals, which are to be completed 
within timeframes and under such terms as are negotiated. In the absence 
of current market information reliably supporting value, the parties may 
agree to use other acceptable and commonly recognized methods to 
estimate value.
    (e) An agreement to initiate an exchange may be amended by written 
consent of the parties or terminated at any time upon written notice by 
any party.
    (f) Entering into an agreement to initiate an exchange does not 
legally bind any party to proceed with processing or to consummate a 
proposed exchange, or to reimburse or pay damages to any party to a 
proposed exchange that is delayed or is not consummated or to anyone 
assisting in any way, or doing business with, any such party.
    (g) The withdrawal from, and termination of, an exchange proposal, 
or an

[[Page 67]]

agreement to initiate an exchange, by the authorized officer at any time 
prior to the notice of decision, pursuant to Sec. 2201.7-1 of this part, 
is not protestable or appealable under 43 CFR part 4.