[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: 43CFR2720.0-5]

[Page 220]
 
                    TITLE 43--PUBLIC LANDS: INTERIOR
 
    CHAPTER II--BUREAU OF LAND MANAGEMENT, DEPARTMENT OF THE INTERIOR
 
PART 2720_CONVEYANCE OF FEDERALLY-OWNED MINERAL INTERESTS--Table of Contents
 
      Subpart 2720_Conveyance of Federally-Owned Mineral Interests
 
Sec. 2720.0-5  Definitions.

    As used in this subpart, the term:
    (a) Prospective record owner means a person who has a contract or 
other agreement to purchase a tract of land that is in non-Federal 
ownership with a reservation of minerals in the United States, or a 
person who is purchasing a tract of land under the provisions of the 
Federal Land Policy and Management Act of 1976 or other laws authorizing 
the conveyance of Federal lands subject to the reservation of a mineral 
interest.
    (b) Known mineral values means mineral rights in lands containing 
geologic formations that are valuable in the monetary sense for 
exploring, developing, or producing natural mineral deposits. The 
presence of such mineral deposits with potential for mineral development 
may be known because of previous exploration, or may be inferred based 
on geologic information.
    (c) Authorized officer means any employee of the Bureau of Land 
Management to whom has been delegated the authority to perform the 
duties described in this part.
    (d) Proof of ownership means evidence of title acceptable in local 
realty practice by attorneys and title examiners and may include a 
current title attorney's opinon, based on a current abstract of title 
prepared by a bonded title insurance or title abstract company doing 
business in the locale where the lands are located.

[44 FR 1342, Jan. 4, 1979, as amended at 51 FR 9657, Mar. 20, 1986; 60 
FR 12711, Mar. 8, 1995]