141-067-0320 Procedures for the Sale, Exchange or Release and Transfer of Mineral and Geothermal Resources (1) For the purposes of OAR 141-067-0320(2) and (3): (a) “Owner” means: (A) The record holder of the fee title interest in residential real property; or (B) The contract purchaser of residential real property. (b) “Residential Real Property” means real property that is sold by the Department for the State Land Board and is located: (A) Inside an urban growth boundary; or (B) Within an area zoned for residential use on a lot or parcel that is three acres or smaller in size. (2) An owner may apply to the Department for the release and transfer to the owner the reserved right to mineral and geothermal resources. Upon application by the owner, the Department will release and transfer to the owner the reserved rights to mineral and geothermal resources within 30 calendar days after the first Land Board meeting that is at least 60 calendar days after the Department received the completed application for the release and transfer of the rights, unless the Land Board finds that a significant mineral or geothermal resource exists. If the Land Board finds that a significant mineral or geothermal interest exists, the owner may: (a) Offer to purchase the resource for the value of the resource; or (b) Withdraw the application. (3) If the Land Board finds that a significant mineral or geothermal resource exists and the owner offers to purchase the resource for the value of the resource: (a) The Land Board will determine the value of the resource on the basis of an appraisal conducted by a state certified appraiser under ORS 674.310 or by a geologist who is registered under 672.505 to 672.705 and qualified to assess the value of mineral and geothermal deposits. (b) The Land Board may not: (A) Require an owner to obtain an appraisal, as described in (a) above; or (B) Require an owner to pay the cost of an appraisal conducted at the request of the Land Board. (4) The Department will charge a fee of $150 to process mineral resource release and transfer applications for owners. (5) Except as provided in subsections (1) through (4), if the rights to mineral and geothermal resources are to be included in a proposed land sale or land exchange, or the owner of the surface interest requests that the Department release and transfer its reserved right to mineral or geothermal resources, the Department will determine the mineral or geothermal potential of the property. (6) The Department of Geology and Mineral Industries may conduct the mineral and geothermal potential analysis for the Department. (7) For proposed land exchanges, the mineral and geothermal potential of both the land exchange partner's land and the Department’s land are to be evaluated. (8) When the Department deems it necessary, a mineral and geothermal appraisal may be required for a land exchange or land sale. (9) The State Land Board may approve of the release and transfer of mineral and geothermal resources when the mineral potential evaluation (including an appraisal of values as required by the Director) reveals no or extremely limited resource potential in any lands being considered for sale or exchange; and the State Land Board deems that the disposal of mineral and geothermal resources is in the long term best interests of the Trust. (10) When mineral or geothermal resources are part of a land exchange, the lands to be exchanged must have roughly equivalent mineral or geothermal resource potential. (11) When mineral or geothermal resources are included in any sale they shall be accorded a monetary value and the Department shall be compensated for their sale. Statutory/Other Authority: ORS 270.005 - 270.190, 273.045, 273.245 - 273.247, 273.251 - 273.311, 273.316 - 273.321, 273.413 - 273.456, 274.040, 274.905 - 274.940 & 274.960 - 274.985 Statutes/Other Implemented: ORS 270.005 - 270.190, 273.045, 273.245 - 273.247, 273.251 - 273.311, 273.316 - 273.321, 273.413 - 273.456, 274.040, 274.905 - 274.940 & 274.960 - 274.985 History: DSL 6-2009, f. & cert. ef. 7-1-09 DSL 2-2002, f. 4-12-02, cert. ef. 7-1-02