[Code of Federal Regulations]

[Title 43, Volume 2]

[Revised as of October 1, 2006]

From the U.S. Government Printing Office via GPO Access

[CITE: 43CFR2201.1-1]



[Page 63]

 

                    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.