[Code of Federal Regulations]
[Title 36, Volume 2]
[Revised as of July 1, 2008]
From the U.S. Government Printing Office via GPO Access
[CITE: 36CFR254.2]

[Page 351-352]
 
              TITLE 36--PARKS, FORESTS, AND PUBLIC PROPERTY
 
          CHAPTER II--FOREST SERVICE, DEPARTMENT OF AGRICULTURE
 
PART 254_LANDOWNERSHIP ADJUSTMENTS--Table of Contents
 
                        Subpart A_Land Exchanges
 
Sec. 254.2  Definitions.

    For the purposes of this subpart, the following terms have the 
meanings set forth in this section.
    Acquisition means the attainment of lands or interests in lands by 
the Secretary, acting on behalf of the United States, by exchange, 
purchase, donation, or eminent domain.
    Adjustment to relative values means compensation for exchange-
related costs, or other responsibilities or requirements assumed by one 
party, which ordinarily would be borne by the other party. These 
adjustments do not alter the agreed upon value of the lands involved in 
an exchange.
    Agreement to initiate means a written, nonbinding statement of 
present intent to initiate and pursue an exchange, which is signed by 
the parties and which may be amended by consent of the parties or 
terminated at any time upon written notice by any party.
    Appraisal or appraisal report means a written statement 
independently and impartially prepared by a qualified appraiser setting 
forth an opinion as to the market value of the lands or interests in 
lands as of a specific date(s), supported by the presentation and 
analysis of relevant market information.
    Approximately equal value means a comparative estimate of value of 
the lands involved in an exchange which have readily apparent and 
substantially similar elements of value, such as location, size, use, 
physical characteristics, and other amenities.
    Arbitration is a process to resolve a disagreement among the parties 
as to appraised value, performed by an arbitrator appointed by the 
Secretary from a list recommended by the American Arbitration 
Association.
    Assembled land exchange means an exchange of Federal land for a 
package of multiple ownership parcels of non-Federal land consolidated 
for purposes of one land exchange transaction.
    Authorized officer means a Forest Service line or staff officer who 
has been delegated the authority and responsibility to make decisions 
and perform the duties described in this subpart.
    Bargaining is a process other than arbitration, by which parties 
attempt to resolve a dispute concerning the appraised value of the lands 
involved in an exchange.
    Federal lands means any lands or interests in lands, such as mineral 
and timber interests, that are owned by the United States and 
administered by the Secretary of Agriculture through the Chief of the 
Forest Service, without regard to how the United States acquired 
ownership.
    Hazardous substances are those substances designated under 
Environmental Protection Agency regulations at 40 CFR part 302.
    Highest and best use means an appraiser's supported opinion of the 
most probable and legal use of a property, based on market evidence, as 
of the date of valuation.
    Lands means any land and/or interests in land.
    Market value means the most probable price in cash, or terms 
equivalent to cash, which lands or interest in lands should bring in a 
competitive and open market under all conditions requisite to a fair 
sale, where the buyer and seller each acts prudently and knowledgeably, 
and the price is not affected by undue influence.

[[Page 352]]

    Mineral laws means the mining and mineral leasing laws applicable to 
Federally owned lands and minerals reserved from the public domain for 
national forest purposes and the Geothermal Steam Act of 1970 (30 U.S.C. 
1001 et seq.), but not the Materials Act of 1947 (30 U.S.C. 601 et 
seq.).
    Outstanding interests are rights or interests in property held by an 
entity other than a party to an exchange.
    Party means the United States or any person, State, or local 
government who enters into an agreement to initiate an exchange.
    Person means any individual, corporation, or other legal entity 
legally capable to hold title to and convey land. An individual must be 
a citizen of the United States and a corporation must be subject to the 
laws of the United States or of the State where the land is located or 
the corporation is incorporated. No Member of Congress may participate 
in a land exchange with an agency of the United States, as set forth in 
18 U.S.C. 431-433.
    Public land laws means that body of non-mineral land laws dealing 
with the disposal of National Forest System lands administered by the 
Secretary of Agriculture.
    Reserved interest means an interest in real property retained by a 
party from a conveyance of the title to that property.
    Resource values means any of the various commodity values or non-
commodity values, such as wildlife habitat and aesthetics, contained 
within land interests, surface and subsurface.
    Secretary means the Secretary of Agriculture or the individual to 
whom responsibility has been delegated.
    Segregation means the removal for a limited period, subject to valid 
existing rights, of a specified area of the Federal lands from 
appropriation under the public land laws and mineral laws, pursuant to 
the authority of the Secretary of the Interior to allow for the orderly 
administration of the Federal lands.
    Statement of value means a written report prepared by a qualified 
appraiser in conformance with the minimum standards of the Uniform 
Standards of Professional Appraisal Practice that states the appraiser's 
conclusion(s) of value.