43 CFR 3514.40 - What if I am a bona fide purchaser and my lease is subject to cancellation?

Regulations last checked for updates: Nov 22, 2024

Title 43 - Public Lands: Interior last revised: Sep 06, 2024

View all text of Subpart 3514 [§ 3514.11 - § 3514.40]

§ 3514.40 - What if I am a bona fide purchaser and my lease is subject to cancellation?

(a) If you are a bona fide purchaser, BLM will not cancel your lease or your interest in a lease based on your predecessor's actions. However, you must be sure that the lease is in compliance with the terms and conditions required by BLM.

(b) BLM will promptly take action to dismiss any party who shows they are a bona fide purchaser from any legal proceedings to cancel the lease.

authority: 5 U.S.C. 552; 30 U.S.C. 189,192c,and; 43 U.S.C. 1701

source: 64 FR 53536, Oct. 1, 1999, unless otherwise noted.

cite as: 43 CFR 3514.40