25 C.F.R. PART 179—LIFE ESTATES AND FUTURE INTERESTS
Title 25 - Indians
Authority: 86 Stat. 530; 86 Stat. 744; 94 Stat. 537; 96 Stat. 2515; 25 U.S.C. 2, 9, 372, 373, 487, 607, and 2201–11. For regulations pertaining to income, rents, profits, bonuses and principal from Indian lands and the recording of title documents pertaining thereto, see parts 150, Land Records and Title Documents; 152, Issuance of Patents in Fee, Certificates of Competency, Removal of Restrictions, and Sale of Certain Indian Lands; 162, Leasing and Permitting; 163, General Forest Regulations; 166, General Grazing Regulations; 169, Rights-of-Way over Indian Lands; 170, Roads of the Bureau of Indian Affairs; 212, Leasing of Allotted Lands for Mining; 213, Leasing of Restricted Lands of Members of the Five Civilized Tribes, Oklahoma, for Mining; 215, Lead and Zinc Mining Operations and Leases, Quapaw Agency. Source: 53 FR 25953, July 8, 1988, unless otherwise noted.
(a) These regulations set forth the authorities, policy and procedures governing the administration of life estates and future interests in Indian lands by the Secretary of the Interior. These regulations do not apply to any use rights assigned by tribes, in the exercise of their jurisdiction over tribal lands, to tribal members. (b) These regulations do not contain information collection requirements which require the approval of the Office of Management and Budget under 44 U.S.C. 3501 et seq. Agency means an Indian Agency or other field unit of the Bureau of Indian Affairs having the Indian land under its immediate jurisdiction. Contract Bonus means cash consideration paid or agreed to be paid as incentive for execution of the contract. Income means the rents and profits of real property and the interest on invested principal. Indian Land means all lands held in trust by the United States for individual Indians or tribes; or all lands, titles to which are held by individual Indians or tribes, subject to Federal restrictions against alienation or encumbrance. Principal means the corpus and capital of an estate, including any payment received for the sale or diminishment of the corpus, as opposed to the income. Secretary means the Secretary of the Interior or authorized representative. Superintendent means the designated officer in charge of an Agency. In the absence of Federal law or Federally-approved tribal law to the contrary, the rules of life estates and future interests in the State in which the land is located shall be applied on Indian land. State procedural laws concerning the appointment and duties of private trustees shall not apply. In all cases where the document creating the life estate does not specify a distribution of proceeds; or where the vested remainderman and life tenant have not entered into a written agreement approved by the Secretary providing for the distribution of proceeds; or where, by such document or agreement or by the application of State law, the open mine doctrine does not apply; the Secretary shall: (a) Distribute all rents and profits, as income, to the life tenant. (b) Distribute any contract bonus one-half each to the life tenant and the remainderman. (c) In the case of mineral contracts, invest the principal, with interest income to be paid the life tenant during the life estate, except in those instances where the administrative cost of investment is disproportionately high, in which case §179.4(d) shall apply. The principal will be distributed to the remainderman upon termination of the life estate. (d) In all other instances, distribute the principal immediately according to the formulas set forth in §179.5, investing all proceeds attributable to any contingent remainderman in an account, with disbursement to take place upon determination of the contingent remainderman. (a) The value of a life estate shall be determined by the formula: Value of Life Estate =P × L, where P =Value of principal, and L =Life estate factor for the age and sex of the life tenant, as shown in Column 2 on tables A(1) and A(2). (b) The value of a remainder shall be determined by the formula: Value of Remainder =P × R, where P =Value of principal, and R =Remainder factor for the age and sex of the life tenant, as shown in Column 3 on tables A(1) and A(2). Upon receipt of a renunciation of interest or notice of death of an Indian or non-Indian who died possessed of a life estate in Indian land, the Superintendent having jurisdiction shall file a copy of the renunciation or death certificate or other evidence of death with the appropriate Bureau of Indian Affairs' Land Titles and Records Office for recording.
Title 25: Indians
PART 179—LIFE ESTATES AND FUTURE INTERESTS
Section Contents
§ 179.1 Purpose, scope, and information collection.
§ 179.2 Definitions.
§ 179.3 Application of State law.
§ 179.4 Distribution of principal and income.
§ 179.5 Value of life estates and remainders.
§ 179.6 Notice of termination of life estate.
§ 179.1 Purpose, scope, and information collection.
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§ 179.2 Definitions.
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§ 179.3 Application of State law.
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§ 179.4 Distribution of principal and income.
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§ 179.5 Value of life estates and remainders.
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Table A(1)_Single Life Male, 6 Percent, Showing the Present Worth of a Life Estate Interest, and of a Remainder Interest------------------------------------------------------------------------ (2)_Life (1)_Age estate (3)_Remainder------------------------------------------------------------------------0............................................. 0.9305 0.062951............................................. .96217 .037832............................................. .96170 .038303............................................. .96053 .039474............................................. .95905 .040955............................................. .95732 .042686............................................. .95540 .044607............................................. .95331 .046698............................................. .95195 .048959............................................. .94861 .0513910............................................ .94598 .0540211............................................ .94316 .0568412............................................ .94019 .0598113............................................ .93708 .0629214............................................ .93391 .0660915............................................ .93069 .0693116............................................ .92746 .0725417............................................ .92419 .0758118............................................ .92089 .0791119............................................ .91751 .0824920............................................ .91403 .0859721............................................ .91046 .0895422............................................ .90678 .0932823............................................ .90292 .0970224............................................ .89884 .1011625............................................ .89445 .1055526............................................ .88972 .1102827............................................ .88465 .1153528............................................ .87925 .1207529............................................ .87353 .1264730............................................ .86750 .1325031............................................ .86117 .1388332............................................ .85451 .1454933............................................ .84752 .1524834............................................ .84020 .1598035............................................ .83255 .1674536............................................ .82455 .1754537............................................ .81622 .1837838............................................ .80755 .1924539............................................ .79854 .2014640............................................ .78923 .2107741............................................ .77960 .2204042............................................ .76967 .2303343............................................ .75944 .2405644............................................ .74891 .2510945............................................ .73808 .2619246............................................ .72695 .2730547............................................ .71552 .2844848............................................ .70385 .2961549............................................ .69198 .3080250............................................ .67997 .3200351............................................ .66785 .3321552............................................ .65560 .3444053............................................ .64320 .3568054............................................ .63060 .3694055............................................ .61776 .3822456............................................ .60466 .3953457............................................ .59131 .4086958............................................ .57778 .4222259............................................ .56417 .4358360............................................ .55052 .4494861............................................ .53687 .4631362............................................ .52321 .4767963............................................ .50954 .4904664............................................ .49585 .5041565............................................ .48212 .5178866............................................ .46836 .5316467............................................ .45458 .5454268............................................ .44077 .5592369............................................ .42689 .5731170............................................ .41294 .5870671............................................ .39889 .6011172............................................ .38474 .6152673............................................ .37051 .6294974............................................ .35624 .6437675............................................ .34194 .6580676............................................ .32761 .6723977............................................ .31327 .6867378............................................ .29895 .7010579............................................ .28481 .7151980............................................ .27098 .7290281............................................ .25773 .7422782............................................ .24527 .7547383............................................ .23354 .7664684............................................ .22217 .7778385............................................ .21070 .7893086............................................ .19955 .8004587............................................ .18870 .8113088............................................ .17822 .8217889............................................ .16831 .8316990............................................ .15922 .8407891............................................ .15097 .8490392............................................ .14350 .8565093............................................ .13681 .8631994............................................ .13081 .8691995............................................ .12535 .8746596............................................ .11998 .8800297............................................ .11487 .8851398............................................ .10999 .8900199............................................ .10532 .89468100........................................... .10087 .89913101........................................... .09661 .90339102........................................... .09250 .90750103........................................... .08846 .91154104........................................... .08439 .91561105........................................... .08000 .92000106........................................... .07471 .92529107........................................... .06718 .93282108........................................... .05426 .94574109........................................... .02830 .97170------------------------------------------------------------------------
Table A(2)_Single Life Female, 6 Percent, Showing the Present Worth of a Life Estate Interest, and of a Remainder Interest------------------------------------------------------------------------ (2)_Life (1)_Age estate (3)_Remainder------------------------------------------------------------------------0............................................. 0.95383 0.046171............................................. .97370 .026302............................................. .97372 .026283............................................. .97308 .026924............................................. .97217 .027835............................................. .97110 .028906............................................. .96989 .030117............................................. .96853 .031478............................................. .96703 .032979............................................. .96541 .0345910............................................ .96365 .0363511............................................ .96176 .0382412............................................ .95975 .0402513............................................ .95764 .0423614............................................ .95543 .0445715............................................ .95314 .0468616............................................ .95076 .0492417............................................ .94829 .0517118............................................ .94572 .0542819............................................ .94303 .0569720............................................ .94021 .0597921............................................ .93724 .0627622............................................ .93412 .0658823............................................ .93085 .0691524............................................ .92739 .0726125............................................ .92375 .0762526............................................ .91993 .0800727............................................ .91591 .0840928............................................ .91168 .0883229............................................ .90725 .0927530............................................ .90259 .0974131............................................ .89773 .1022732............................................ .89265 .1073533............................................ .88733 .1126734............................................ .88176 .1182435............................................ .87593 .1240736............................................ .86985 .1301537............................................ .86349 .1365138............................................ .85687 .1431339............................................ .84998 .1500240............................................ .84281 .1571941............................................ .83536 .1646442............................................ .82764 .1723643............................................ .81962 .1803844............................................ .81131 .1886945............................................ .80269 .1973146............................................ .79374 .2062647............................................ .78448 .2155248............................................ .77488 .2251249............................................ .76498 .2350250............................................ .75476 .2452451............................................ .74423 .2557752............................................ .73339 .2666153............................................ .72220 .2778054............................................ .71062 .2893855............................................ .69859 .3014156............................................ .68612 .3138857............................................ .67320 .3268058............................................ .65988 .3401259............................................ .64622 .3537860............................................ .63226 .3677461............................................ .61803 .3819762............................................ .60352 .3964863............................................ .58871 .4112964............................................ .57355 .4264565............................................ .55803 .4419766............................................ .54211 .4578967............................................ .52583 .4741768............................................ .50924 .4907669............................................ .49241 .5075970............................................ .47540 .5246071............................................ .45823 .5417772............................................ .44088 .5591273............................................ .42341 .5765974............................................ .40587 .5941375............................................ .38833 .6116776............................................ .37073 .6292777............................................ .35307 .6469378............................................ .33546 .6645479............................................ .31811 .6818980............................................ .30117 .6988381............................................ .28489 .7151182............................................ .26935 .7306583............................................ .25439 .7456184............................................ .23956 .7604485............................................ .22441 .7755986............................................ .21010 .7899087............................................ .19674 .8032688............................................ .18431 .8156989............................................ .17285 .8271590............................................ .16241 .8375991............................................ .15301 .8469992............................................ .14470 .8553093............................................ .13741 .8625994............................................ .13103 .8689795............................................ .12535 .8746596............................................ .11998 .8800297............................................ .11487 .8851398............................................ .10999 .8900199............................................ .10532 .89468100........................................... .10087 .89913101........................................... .09661 .90339102........................................... .09250 .90750103........................................... .08846 .91154104........................................... .08439 .91561105........................................... .08000 .92000106........................................... .07471 .92529107........................................... .06718 .93282108........................................... .05426 .94574109........................................... .02830 .97170------------------------------------------------------------------------
§ 179.6 Notice of termination of life estate.
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