This Chapter authorizes the district administrator of each administrative district to execute leases and other use agreements of public land of a duration of not more than 25 years to Trust Territory citizens or corporations or other business associations wholly owned by citizens of the Trust Territory. Such leases or other use agreements shall be on forms approved by the Attorney General and shall be granted in accordance with the policies established by Law or by Regulations issued by the Land and Claims Administrator and approved by the High Commissioner.

This Chapter declares the national policy to preserve for public use historic sites, buildings and objects of territorial significance for the inspiration and benefit of the people of Micronesia, establishes the Historic Sites Commission and defines functions and powers of the Commission and the Deputy Director for Resources and Development in respect of the preservation of historical sites and artefacts. The Deputy Director may acquire land with the consent of the owner.

This Chapter contains rules relative to the acquisition of real property by the government, i.e. Territory government, the district or municipal governments or the agencies created by the above enumerated governmental divisions. It sets out procedures for such acquisition and requires the government to observe certain criteria regarding acquisition regarding necessity of acquisition, just payment (including payment for improvements), timing, etc.The Chapter also grants powers to the High Commissioner to issue Regulations to implement this Chapter.