25 CFR §162.458
Verified against eCFR.gov as of June 20, 2026View official text on eCFR.gov ↗
- (a)Unless the lease provides otherwise, the lessee must notify all Indian landowners of the proposed leasehold mortgage.
- (b)The Indian landowners, or their representatives under § 162.013, must consent to a leasehold mortgage of a business lease in the same percentages and manner as a new business lease under § 162.012, unless the lease:
- (1)States that landowner consent is not required for a leasehold mortgage and identifies what law would apply in case of foreclosure;
- (2)Provides that individual Indian landowners are deemed to have consented where they do not object in writing to the leasehold mortgage within a specified period of time following the landowners' receipt of the leasehold mortgage and the lease meets the requirements of paragraph (c) of this section;
- (3)Authorizes one or more representatives to consent to a leasehold mortgage on behalf of all Indian landowners; or
- (4)Designates us as the Indian landowners' representative for the purposes of consenting to a leasehold mortgage.
- (c)If the lease provides for deemed consent under paragraph (b)(2) of this section, it must require the parties to submit to us: