[Code of Federal Regulations] [Title 25, Volume 1] [Revised as of April 1, 2005] From the U.S. Government Printing Office via GPO Access [CITE: 25CFR179] [Page 634] TITLE 25--INDIANS CHAPTER I--BUREAU OF INDIAN AFFAIRS, DEPARTMENT OF THE INTERIOR PART 179_LIFE ESTATES AND FUTURE INTERESTS--Table of Contents Sec. 179.4 Distribution of principal and income. In all cases where the document creating the life estate does not specify a distribution of proceeds; or where the vested remainderman and life tenant have not entered into a written agreement approved by the Secretary providing for the distribution of proceeds; or where, by such document or agreement or by the application of State law, the open mine doctrine does not apply; the Secretary shall: (a) Distribute all rents and profits, as income, to the life tenant. (b) Distribute any contract bonus one-half each to the life tenant and the remainderman. (c) In the case of mineral contracts, invest the principal, with interest income to be paid the life tenant during the life estate, except in those instances where the administrative cost of investment is disproportionately high, in which case Sec. 179.4(d) shall apply. The principal will be distributed to the remainderman upon termination of the life estate. (d) In all other instances, distribute the principal immediately according to the formulas set forth in Sec. 179.5, investing all proceeds attributable to any contingent remainderman in an account, with disbursement to take place upon determination of the contingent remainderman.