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Contact Information | Application | Deed | Fair Market Value | Land Sale Payment | Privacy Act |
Contact Information - Frequently Asked Questions
Q. Who do I contact for more information?
A. Call the ILCP Central Acquisition Center for your Region. click on the map of the United States located
Q. May I give you my updated information?
A. Yes, please always keep us updated! In addition to our office, please contact OST Trust Beneficiary Call Center
at 1-888-678-6836 so that you will continue to receive information about your IIM Account.
Q. Do you have a website where I can find additional information?
Application - Frequently Asked Questions
Q. Is a Notary Public needed to witness my signature on my application?
A. No, however the application must be signed before a witness over the age of 18.
Deeds - Frequently Asked Questions
Q. What do I do when I receive the deed(s)?
A. Ensure that all personal information is correct. In the presence of 2 witnesses and a
Notary Public, sign your name exactly as it appears on the signature line. If you have
questions, please contact the ILCP.
Q. Who can be my witness?
A. Anyone over the age of 18, preferably not a family member, who watched you sign the deed and can
verify your identity. A Notary Public is not needed on the application form.
Q. Where do I find a Notary Public?
A. Any bank, most city offices or local BIA Agencies will have Notary Public services available.
Q. Is there a cost for the Notary Public?
A. In many instances there is no cost, however this varies by state.
Q. Can I make changes to the deed?
A. No. The deed is a legal document. It must be filled out neatly and completely with no
white out,cross outs or stray markings
Q. How do I sign my name?
A. Sign your name exactly as shown in the signature line of the deed.
Q. How long will it take for me to receive my payment?
A. Once your signed deed(s) is returned to the ILCP, your payment should be received
within 4-6 weeks. For more timely payment, contact OST at 1-888-678-6836 to make
arrangements for direct deposit or to obtain an OST debit card.
Fair Market Value (FMV) - Frequently Asked Questions
Q. What is the FMV?
A. FMV is the Fair Market Value as established by OST’s Office of Appraisal Services (OAS).
Q. How is the FMV of the land determined?
A. Appraisals are completed by OAS for each tract of land. The FMV of your share is based
on the amount of interest you hold in the tract. (Example: You hold a 1/25 share in a tract valued
at $100,000. Calculation: 100,000 x 1/25 = 4,000. Your share is valued at $4,000.)
Q. How often does OAS appraise properties?
A. Appraisals are reviewed at least once a year with a determination by OAS whether or not
a new appraisal is necessary.
Q. Is the amount negotiable?
A. No. ILCP only pays FMV. However, it is solely your decision to sell or not to sell.
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Land Sale Payment Frequently Asked Questions
Q. I'm not going to be home. May I have my check sent to work?
A. No. All correspondence will be directed to the address listed on your IIM account. OST
issues payment through checks, debit cards or direct depositing into your bank, therefore
we have no control over the payment. Contact OST at 1-888-678-6836 for more information.
Q. Can I get payment through a debit card?
A. Yes. Contact OST at 1-888-678-6836 for more information.
Q. Can my check be sent in someone else's name?
A. No, all checks must be issued in the name of the landowner.
Q. May I drive there and pick up the check?
A. No. The payment comes directly from OST and may be mailed or direct
deposited into your banking account.
Q. If I owe back taxes will the IRS keep my check.
Q. Can I get a lease on this land?
A. Maybe. Contact your local BIA Agency for more information.
Q. Will I still receive income once I sell my interests on an allotment?
A. No, not unless you inherit again.
Q. Is this income taxable?
A. No. Under the Internal Revenue Service Ruling 57-407, income derived by an Indian
from the sale of trust property is not subject to State or Federal Income Tax.
Privacy Act - Frequently Asked Questions
Q. Can you tell me if my brother/sister/etc. is going through with the sale? Can you tell me
how much my relatives received for their land? Can you tell me if (name of person) sold everything?
Can my husband or other relative call in for me?
A. No. Due to the Privacy Act of 1974, verbal or written permission is required before any disclosure of
landowner sale details will be released to any individual other than the landowner.
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