Code of Federal Regulations · Section
§ 3515.20 — May I Exchange Preference Rights?
43 C.F.R. § 3515.20
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Yes. To have a preference right that can be exchanged, you must have timely submitted a preference right lease application. If you have demonstrated a right to a lease, BLM may, in lieu of issuing the preference right lease, negotiate for the selection of appropriate lands to exchange and establish lease terms for those lands.
Authorizing Statute
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Congressional declaration of policy43 U.S.C. § 1701