After reading it, it struck me that I had not heard much mention about
such a potentially dangerous issue that may require emergency measures.
If this Deed of Trust Act were to become full-blown, I can hardly bear to
envision the possible outcomes. This reminds me of the Indian
Reorganization Act and the Allotment Period of Indian peoples' hellish
history. The allotment of lands was a dismal failure and a tremendous
blow for the Indians who could not pay the taxes and ended up losing title to
the lands. The size of Indian-held lands decreased at an alarming rate as a
result.
Frankly, it frightens me to think of the consequences of this new
legislation if it does not have the proper buffering it needs to prevent loss
of land.
The excerpt follows:
===============================
>From the Navajo Times-- Nov 4, 1993
President Moves Clearly on Deed of Trust Act
by Bill Donovan
Navajo Times Correspondent
Window Rock--
Navajo Nation President Peterson Zah is still considering most of the
resolutions approved by the Navajo Nation Council during the fall session
but he wasted no time in approving the one that will pave the way for
more home mortgages on the reservation.
The Deed of Trust Act is the key to what Tribal officials are hoping will
lead to a housing boom on the reservation.
The resolution approved by the council provides, for the first time, a
mechanism by which those who loan money for mortgages can recover
their loan if the mortgage owner forfeits.
"This wasn't in place before," said Duane Beyal, press information officer
for Navajo President Peterson Zah. "If the house was built on reservation
land, this caused problems because the land the house was built upon was
located on trust land and could not be dispossessed."
Beyal said approval by the council also paves the way for the tribe to
enter into an agreement with the Veterans Home Loan Program that would
allow veterans loans to go to qualified borrowers.
The tribe is also discussing the issuance of more home loans with
Norwest, Inc., the company that took over Citibank's operations on the
reservation.
"What this council resolution has done is set up a situation where the
Navajo people can now get home loans, using the lease as collateral,"
Beyal said.
========== End of Transcription.