[Code of Federal Regulations]
[Title 43, Volume 2]
[Revised as of October 1, 2004]
From the U.S. Government Printing Office via GPO Access
[CITE: 43CFR2201.1-1]

[Page 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. 2201.1-1  Assembled land exchanges.

    (a) Whenever the authorized officer determines it to be practicable, 
an assembled land exchange arrangement may be used to facilitate 
exchanges and reduce costs.
    (b) The parties to an exchange may agree to such an arrangement 
where multiple parcels of Federal and/or non-Federal lands are 
consolidated into a package for the purpose of completing one or more 
exchange transactions over a period of time.
    (c) An assembled land exchange arrangement shall be documented in 
the agreement to initiate an exchange, pursuant to Sec. 2201.1 of this 
part.
    (d) Values of the Federal and non-Federal lands involved in an 
assembled exchange arrangement shall be estimated pursuant to Sec. 
2201.3 of this part.
    (e) If more than one transaction is necessary to complete the 
exchange package, the parties shall establish a ledger account under 
which the Federal and non-Federal lands can be exchanged. When a ledger 
account is used, the authorized officer shall:
    (1) Assure that the value difference between the Federal and non-
Federal lands does not exceed 25 percent of the total value of the 
Federal lands conveyed in the assembled land exchange up to and 
including the current transaction;
    (2) Assure that the values of the Federal and non-Federal lands 
conveyed are balanced with land and/or money at least every 3 years 
pursuant to Sec. 2201.6 of this part; and
    (3) If necessary, require from the non-Federal party a deposit of 
cash, bond or other approved surety in an amount equal to any 
outstanding value differential.
    (4) Assembled land exchanges are subject to the value equalization 
and cash equalization waiver provisions of Sec. 2201.6 of this part. 
Cash equalization waiver shall only be used in conjunction with the 
final transaction of the assembled land exchange and the termination of 
any ledger account used.
    (f) The assembled exchange arrangement may be terminated 
unilaterally at any time upon written notice by any party or upon 
depletion of the Federal or non-Federal lands assembled. Prior to 
termination, values shall be equalized pursuant to Sec. 2201.6 of this 
part.