---
kind: "section"
citation: "43 C.F.R. § 2201.1-1"
title: "43"
number: "2201.1-1"
heading: "Assembled land exchanges."
url: "https://uscodex.org/cfr/43/2201.1-1"
---

# §2201.1-1. Assembled land exchanges.

- (a) Whenever the authorized officer determines it to be practicable, an assembled land exchange arrangement may be used to facilitate exchanges and reduce costs.
- (b) The parties to an exchange may agree to such an arrangement where multiple parcels of Federal and/or non-Federal lands are consolidated into a package for the purpose of completing one or more exchange transactions over a period of time.
- (c) An assembled land exchange arrangement shall be documented in the agreement to initiate an exchange, pursuant to [§ 2201.1](/cfr/43/2201.1.md) of this part.
- (d) Values of the Federal and non-Federal lands involved in an assembled exchange arrangement shall be estimated pursuant to [§ 2201.3](/cfr/43/2201.3.md) of this part.
- (e) If more than one transaction is necessary to complete the exchange package, the parties shall establish a ledger account under which the Federal and non-Federal lands can be exchanged. When a ledger account is used, the authorized officer shall:
  - (1) Assure that the value difference between the Federal and non-Federal lands does not exceed 25 percent of the total value of the Federal lands conveyed in the assembled land exchange up to and including the current transaction;
  - (2) Assure that the values of the Federal and non-Federal lands conveyed are balanced with land and/or money at least every 3 years pursuant to [§ 2201.6](/cfr/43/2201.6.md) of this part; and
  - (3) If necessary, require from the non-Federal party a deposit of cash, bond or other approved surety in an amount equal to any outstanding value differential.
  - (4) Assembled land exchanges are subject to the value equalization and cash equalization waiver provisions of [§ 2201.6](/cfr/43/2201.6.md) of this part. Cash equalization waiver shall only be used in conjunction with the final transaction of the assembled land exchange and the termination of any ledger account used.
- (f) The assembled exchange arrangement may be terminated unilaterally at any time upon written notice by any party or upon depletion of the Federal or non-Federal lands assembled. Prior to termination, values shall be equalized pursuant to [§ 2201.6](/cfr/43/2201.6.md) of this part.

## Notes

### Authority

Authority: 43 U.S.C. 1716, 1740.

### Source

Source: 46 FR 1638, Jan. 6, 1981, unless otherwise noted.