Valuation

Summarized by Plex Health
Last Updated: 07 May 2022

The Buy-Back Program is devoted to ensuring that landowners obtain reasonable market worth for their fractional land rate of interests. The Program identifies the reasonable market price of Surface and Both fractionated systems at each location. Surface systems have ownership legal rights only to the land surface of the tract, not to any minerals or other resources, such as oil, underground. The fair market price assessment is the primary foundation for specific deal quantities as required by the Cobell Settlement. The Appraisal and Valuation Services Office, Land Buy-Back Program Valuation Division assesses each tract as if it were a single-owner charge condition tract, and contrasts the tract to comparable tracts that have sold in the area. The AVSO collaborates with Tribes throughout the assessment procedure to include local real estate knowledge. People might request assessment reports using written request sent to their Senior Advisor, Tribal Relations, and landowners may call the Trust Beneficiary Call Center at 1-888-678-6836. In enhancement to its determination that the Department's Valuation Plan stands for a methodologically sound approach to fulfilling the demands of the Buy-Back Program, TAF also provided a collection of referrals to further enhance the program. The last report contained the recommendations and final thoughts relating to the evaluation services prepare for supplying Uniform Standards of Professional Appraisal Practice -compliant assessments relative to the Buy-Back Program. This job was an independent analysis and analysis of the applicability of USPAP Standards 5 and 6 and the International Association of Assessing Officers criteria pertinent to the valuation of lands.

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