Title 30, Mineral Lands and MiningRelease 119-102
§705 Purchase Price of Conveyed Interest; Installment Payments
Title 30 › CHAPTER 20 — CONVEYANCES TO OCCUPANTS OF UNPATENTED MINING CLAIMS › § 705
Summary
Before transferring any land interest, the Secretary of the Interior must set its fair market value as of the appraisal date, excluding any improvements added by the applicant or their predecessors. The Secretary must consider equities like prior use. The price cannot be higher than fair market value or lower than $5 per acre, and payments may be allowed 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
Aug 21, 2026
Release point: 119-102