[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: 43CFR2720.0-5]



[Page 216]

 

                    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]