[Code of Federal Regulations]
[Title 36, Volume 1]
[Revised as of July 1, 2004]
From the U.S. Government Printing Office via GPO Access
[CITE: 36CFR17.7]

[Page 238-239]
 
              TITLE 36--PARKS, FORESTS, AND PUBLIC PROPERTY
 
      CHAPTER I--NATIONAL PARK SERVICE, DEPARTMENT OF THE INTERIOR
 
PART 17_CONVEYANCE OF FREEHOLD AND LEASEHOLD INTERESTS ON LANDS OF 
THE NATIONAL PARK SYSTEM--Table of Contents
 
Sec. 17.7  Preference rights.

    On any property which has been in Federal ownership less than two 
years, the Secretary, in addition to the notice specified in Sec. 17.4, 
shall inform the last owner or owners of record by certified mail at 
their present or last known address of the highest bid on the interest 
and advise them of their right to acquire the interest for an amount 
equal to the highest bid if within 30 days they notify the Secretary of 
their desire to do so and make payment or agree to make payment of an 
amount equal to that specified in Sec. 17.5.

[[Page 239]]


If within 30 days of mailing of such notification, the former owner or 
owners do not indicate a desire to acquire the interest and make payment 
or agree to make payment for such interest in an amount equal to the 
declared high bid, or, if they do indicate such a desire but fail to 
consummate the transaction within the time period established for the 
conveyance, then the bid of the declared high bidder will be accepted. 
In the event that a former owner who indicates a desire to repurchase 
pursuant to this procedure fails to consummate the transaction within 
the established time period the declared high bidder shall be permitted, 
but not required, to consummate the transaction. If the declared high 
bidder does not choose to consummate the transaction in this 
circumstance, the entire transaction will be cancelled, and, if 
appropriate, a new bidding procedure instituted.