Exchanges at approximately equal value.

§ 2201.5 Exchanges at approximately equal value. (a) The authorized officer may exchange lands that are of approximately equal value when it is determined that: (1) The exchange is in the public interest and the consummation of the proposed exchange will be expedited; (2) The value of the lands to be conveyed out of Federal ownership is not more than $150,000 as based upon a statement of value prepared by a qualified appraiser and approved by the authorized officer; (3) The Federal and non-Federal lands are substantially similar in location, acreage, use, and physical attributes; and (4) There are no significant elements of value requiring complex analysis. (b) The authorized officer shall determine that the Federal and non-Federal lands are approximately equal in value and shall document how the determination was made.