Interested sellers have 45 days to respond to offers
Date: June 26, 2017
WASHINGTON – The Department of the Interior today announced that more than 1,600 landowners with fractional interests at the Nez Perce Indian Reservation in Idaho, as well as the Pechanga and Rincon Indian Reservations in California, have been sent purchase offers from the Land Buy-Back Program for Tribal Nations (Buy-Back Program).
The Buy-Back Program implements the land consolidation component of the Cobell Settlement, which provided $1.9 billion to purchase fractional interests in trust from willing sellers at fair market value. Interests consolidated through the Program are restored to tribal trust ownership. Tribal ownership now exceeds 50 percent in more than 13,800 tracts of land, strengthening tribal sovereignty and self-determination.
Since the Program began making offers in December 2013, approximately $1.2 billion has been paid to landowners, more than 700,000 fractional interests have been consolidated, and the equivalent of over 2.1 million acres of land has been transferred to tribal governments.
“The Buy-Back Program has already made a difference for tribal communities, and enabled important investments for tribes, such as consolidating land for critical infrastructure projects,” said Program Director John McClanahan. “Many landowners see little or no economic benefit from what are often very small, undivided interests in lands that cannot be utilized due to their highly fractionated state. Consolidating fractional interests facilitates more effective land use and trust management.”
Landowners have 45 days to consider and return accepted offers in the pre-paid postage envelops provided. Offers are currently outstanding for landowners with fractional land interests at:
Landowners can contact the Trust Beneficiary Call Center at 888-678-6836 or visit their local Office of the Special Trustee for American Indians (OST) to ask questions about their land or purchase offers, and learn about financial planning resources. More information and detailed frequently asked questions are available to help individuals make informed decisions about their land.