119th CONGRESS 1st Session
To require the Bureau of Indian Affairs to process and complete all mortgage packages associated with residential and business mortgages on Indian land by certain deadlines, and for other purposes.
IN THE SENATE OF THE UNITED STATES · February 25, 2025 · Sponsor: Mr. Thune · Committee: Committee on Indian Affairs
applicable Bureau office means—Bureau means the Bureau of Indian Affairs.Director means the Director of the Bureau.first certified title status report means the title status report needed to verify title status on Indian land.Indian land has the meaning given the term in section 162.003 of title 25, Code of Federal Regulations (as in effect on the date of enactment of this Act).land mortgage means a mortgage obtained by an individual Indian who owns a tract of trust land for the purpose of—leasehold mortgage means a mortgage, deed of trust, or other instrument that pledges the leasehold interest of a lessee as security for a debt or other obligation owed by the lessee to a lender or other mortgagee.mortgage package means a proposed residential leasehold mortgage, business leasehold mortgage, land mortgage, or right-of-way document submitted to an applicable Bureau office under section 3(a)(1).relevant Federal agency means any of the following Federal agencies that guarantee or make direct mortgage loans on Indian land:right-of-way document has the meaning given the term in section 169.2 of title 25, Code of Federal Regulations (as in effect on the date of enactment of this Act).subsequent certified title status report means the title status report needed to identify any liens against a residential, business, or land lease on Indian land.TAAMS