Mining Act of 1872 allows any American citizen and even foreign corporations to drive four stakes into the ground at the corners of government owned public land in most western states and apply for a patent (title) on the land. You can apply for as many as you like and pay a yearly $100 fee for the land.
Would I be able to stake our 50 or 100 of these 20 acre parcels and build homes on these sites, sell them at a profit?
Has anyone actually done this yet?
I know there is a patent moratorium that is renewed by Congress every year, but that just stops you from buying the title to the land at $5 per acre, but you can still pay the $100 yearly per 20 acre plot. The big question remains:
Is this legal?
2007-09-16
19:35:26
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6 answers
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asked by
Christopher A
3
in
Business & Finance
➔ Renting & Real Estate