[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: 43CFR2201.3-4]

[Page 70]
 
                    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. 2201.3-4  Appraisal review.

    (a) Appraisal reports shall be reviewed by a qualified review 
appraiser meeting the qualifications set forth in Sec. 2201.3-1 of this 
part. Statements of value prepared by agency appraisers are not subject 
to this review.
    (b) The review appraiser shall determine whether the appraisal 
report:
    (1) Is complete, logical, consistent, and supported by a market 
analysis;
    (2) Complies with the standards prescribed in Sec. 2201.3-3 of this 
part; and
    (3) Reasonably estimates the probable market value of the lands 
appraised.
    (c) The review appraiser shall prepare a written review report, 
containing at a minimum:
    (1) A description of the review process used;
    (2) An explanation of the adequacy, relevance, and reasonableness of 
the data and methods used by the appraiser to estimate value;
    (3) The reviewing appraiser's statement of conclusions regarding the 
appraiser's estimate of market value; and
    (4) A certification by the review appraiser to the following:
    (i) The review appraiser has no present or prospective interest in 
the property that is the subject of the review report; and
    (ii) The review appraiser has not, and will not, receive 
compensation that was contingent on the approval of the appraisal 
report.