Code of Federal Regulations (Last Updated: July 5, 2024) |
Title 25 - Indians |
Chapter I - Bureau of Indian Affairs, Department of the Interior |
SubChapter H - Land and Water |
Part 166 - Grazing Permits |
Subpart C - Permit Requirements |
Permit (Leasehold) Mortgage |
§ 166.226 - May the holder of a leasehold mortgage assign the leasehold interest after a sale or foreclosure of an approved encumbrance?
Latest version.
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§ 166.226 May the holder of a leasehold mortgage assign the leasehold interest after a sale or foreclosure of an approved encumbrance?
Yes. The holder of a leasehold mortgage may assign a leasehold interest obtained by a sale or foreclosure of an approved encumbrance without our approval if the assignee agrees in writing to be bound by the terms of the permit. A permit may provide the Indian landowners with a right of first refusal on the conveyance of the permit interest (leasehold).