1. Residential Leasing and Mortgaging on Indian Lands New Mexico Housing Summit August 21, 2014

2. Regulations 2 25 CFR § 162 Updated December 5, 2012

3. Subpart C – Residential Leasing 3 General Provisions §§162.301 – 162.303 Lease Requirements §§162.311 – 162.317 Rental Requirements §§162.320 – 162.329 Bonding and Insurance §§162.334 – 162.337

4. 4 Approval §§162.338 – 162.344 Amendments §§162.345 – 162.348 Assignments §§162.349 – 162.352 Subleases §§162.353 – 162.356 Subpart C – Residential Leasing

5. 5 Leasehold Mortgages §§162.357 – 162.360 Effectiveness, Compliance, and Enforcement §§162.361 – 162.374 Subpart C – Residential Leasing

6. Requirements Legal Description – §162.317 Reference public or private survey, or Legal description Survey-grade GPS Registered land surveyor Rent – §162.320 Amount determined by the tribe to be in its best interest Appraisal at the request of the tribe Tribe not bound by the appraised FMV 6

7. Approval 7 Required documents – §162.338 Lease Tribal authorization Valuation (if required) Environmental clearance Legal description Lease Review – §162.339 May be requested prior to submittal for approval 10 days to review

8. Approval 8 Approval Process – §162.340 Best interest of the Indian landowners Review lease & supporting documents Ensure compliance with applicable laws “Promptly” notify if package is complete If incomplete, letter to tribe identifying missing documents If complete, BIA notifies tribe of date of receipt 30 days to approve or disapprove

9. Approval 9 BIA Decision-making Process – §162.341 Approval unless: Required consents not obtained Subpart requirements not met Protect best interest of landowner Recording of Lease – §162.343 Any residential lease, amendment, assignment, or leasehold mortgage must be recorded in the DLTR Residential subleases need not be recorded

10. Leasehold Mortgage 10 Consent Requirement – §162.358 Unless stated in lease, consent is required Approval Process – §162.359 BIA notifies tribe when package received 20 days to approve or disapprove

11. Leasehold Mortgage 11 BIA Decision-making Process – §162.360 Approval unless: Required consents not obtained Subpart requirements not met Protect best interest of landowner NOTE: Contact your local BIA agency early in the process because Environmental review, Section 106 concurrence, and TSR all take time.

12. Realty’s Steps 12 What happens when BIA receives a lease? Review per 25 CFR 162 Request approval from Regional Director Encode into electronic system of record Image into electronic system of record TIR log updated DLTR takes over

13. Contacts 13

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15. The End 15