§ 705. — Purchase price of conveyed interest; installment payments.
[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
January 24, 2002 and December 19, 2002]
[CITE: 30USC705]
TITLE 30--MINERAL LANDS AND MINING
CHAPTER 20--CONVEYANCES TO OCCUPANTS OF UNPATENTED MINING CLAIMS
Sec. 705. Purchase price of conveyed interest; installment
payments
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. 87-851, Sec. 5, Oct. 23, 1962, 76 Stat. 1128.)
Section Referred to in Other Sections
This section is referred to in sections 701, 704 of this title.
