36 CFR §254.11

1. (a)The authorized officer may exchange lands which are of approximately equal value upon a determination that:
   1. (1)The exchange is in the public interest and the consummation of the proposed exchange will be expedited;
   2. (2)The value of the lands to be conveyed out of Federal ownership is not more than $150,000 as based upon a statement of value prepared by a qualified appraiser and accepted by an authorized officer;
   3. (3)The Federal and non-Federal lands are substantially similar in location, acreage, use, and physical attributes; and
   4. (4)There are no significant elements of value requiring complex analysis.
2. (b)The authorized officer, not the non-Federal party, determines whether the Federal and non-Federal lands are approximately equal in value and must document how the determination was made.