Title 30 — Mineral Lands and MiningRelease 119-73
§705 Purchase price of conveyed interest; installment payments
Title 30 › Chapter CHAPTER 20— - CONVEYANCES TO OCCUPANTS OF UNPATENTED MINING CLAIMS › § 705
Summary
Before transfer, the Interior Secretary must find the fair market value of the interest as of the appraisal date, excluding improvements put on the land by the applicant or predecessors, and must consider rights like prior use or occupancy. The price cannot be more than that value or less than $5 per acre, and the Secretary may allow payments in installments.
Full Legal Text
Title 30, §705
Mineral Lands and Mining — Source: USLM XML via OLRC
The Secretary of the Interior, prior to any conveyance under this chapter, shall determine the fair market value of the interest to be conveyed, exclusive of the value of any improvements placed on the lands involved by the applicant or his predecessors in interest. Said value shall be determined as of the date of appraisal. In establishing the purchase price to be paid by the applicant for the interest, the Secretary shall take into consideration any equities of the applicant and his predecessors in interest, including conditions of prior use and occupancy. In any event the purchase price for any interest conveyed shall not exceed its fair market value nor be less than $5 per acre. The Secretary may, in his discretion, allow payment to be made in installments.
Reference
Citations & Metadata
Citation
30 U.S.C. § 705
Title 30 — Mineral Lands and Mining
Last Updated
Apr 6, 2026
Release point: 119-73