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Co-Authored-By: Claude Opus 4.8 <noreply@anthropic.com>
2026-07-06 10:51:44 -04:00

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LegalText 30 U.S.C. § 705 Purchase price of conveyed interest; installment payments us united_states_code code_section 30 MINERAL LANDS AND MINING 20 CONVEYANCES TO OCCUPANTS OF UNPATENTED MINING CLAIMS 705 30 U.S.C. § 705 current 119-100 2026-06-26 official https://uscode.house.gov/download/releasepoints/us/pl/119/100/xml_usc30@119-100.zip /us/usc/t30/s705 data/legal/raw/us/code/title-30/usc30.xml 2b4c8f7a402683be15bc97708ace13c9ee8d1f46309095c7bf32b200324c1a78 355f8eb5c6ad5372de4a8e665d9ed90202d53d2aac19ac001d43948af4a4dd2f 717f8436add8ecc1416d537a4312028ab76ff555ec33a204019565f83e3fe028 2026-07-04 official
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30 U.S.C. § 705 - Purchase price of conveyed interest; installment payments

Text

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.

(Pub. L. 87851, § 5, Oct. 23, 1962, 76 Stat. 1128.)