As used in the regulations in this part:

(a) Authorized officer shall mean an officer or employee of the National Park Service designated to conduct the sale or lease and delegated authority to execute all necessary documents, including deeds and leases.

(b) The term unit of the National Park System means any area of land or water administered by the Secretary of the Interior through the National Park Service for park, monument, historic, parkway, recreational, or other purposes.

(c) The term national park means any unit of the National Park System the organic act of which declares it to be a “national park.”

(d) The term national monument of scientific significance means a unit of the National Park System designated as a national monument by statute or proclamation for the purpose of preserving landmarks, structures, or objects of scientific interest.

(e) The term person includes but is not necessarily limited to an individual partnership, corporation, or association.

(f) The term freehold interest means an estate in real property of permanent or of indefinite duration.

(g) The term leasehold interest means an estate in real property for a fixed term of years or an estate from month-to-month or from year-to-year.

(h) The term fair market value means the appraised value as set forth in an approved appraisal made for the Secretary for the interest to be sold or leased.

[42 FR 46302, Sept. 15, 1977, as amended at 62 FR 30234, June 3, 1997]