[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: 43CFR2541.4]



[Page 129]

 

                    TITLE 43--PUBLIC LANDS: INTERIOR

 

    CHAPTER II--BUREAU OF LAND MANAGEMENT, DEPARTMENT OF THE INTERIOR

 

PART 2540_COLOR-OF-TITLE AND OMITTED LANDS--Table of Contents

 

                     Subpart 2541_Color-of-Title Act

 

Sec.  2541.4  Price of land; payment.



    (a) Price of land. The land applied for will be appraised on the 

basis of its fair market value at the time of appraisal. However, in 

determination of the price payable by the applicant, value resulting 

from improvements or development by the applicant or his predecessors in 

interest will be deducted from the appraised price, and consideration 

will be given to the equities of the applicant. In no case will the land 

be sold for less than $1.25 per acre.

    (b) Payment. Applicant will be required to make payment of the sale 

price of the land within the time stated in the request for payment.