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U.S. Code as of:
01/19/04
Section 483a. Mortgages and deeds of trust by individual Indian owners; removal from trust or restricted status; application to Secretary
(a) The individual Indian owners of any land which either is held
by the United States in trust for them or is subject to a
restriction against alienation imposed by the United States are
authorized, subject to approval by the Secretary of the Interior,
to execute a mortgage or deed of trust to such land. Such land
shall be subject to foreclosure or sale pursuant to the terms of
such mortgage or deed of trust in accordance with the laws of the
tribe which has jurisdiction over such land or, in the case where
no tribal foreclosure law exists, in accordance with the laws of
the State or Territory in which the land is located. For the
purpose of any foreclosure or sale proceeding the Indian owners
shall be regarded as vested with an unrestricted fee simple title
to the land, the United States shall not be a necessary party to
the proceeding, and any conveyance of the land pursuant to the
proceeding shall divest the United States of title to the land. All
mortgages and deeds of trust to such land heretofore approved by
the Secretary of the Interior are ratified and confirmed.
(b) In the event such land is acquired by an Indian or an Indian
tribe, such land shall not be removed from trust or restricted
status except upon application to the Secretary under existing law.
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