The Cherokee Nation says it plans to purchase Sequoyah's Cabin and the more than 200 surrounding acres from the Oklahoma Historical Society.
Sequoyah is one of the most well-known Cherokee historical figures, having developed the Cherokee syllabary, or alphabet.
Sequoyah was born in Tennessee about 1778 and migrated to what is now Oklahoma in about 1818. The one-room log cabin was built in 1829.
The cabin and surrounding acres were bought by the historical society in 1936 and was designated a National Historic Landmark in 1965.
Historical society executive director Bob Blackburn said state appropriations have been cut by 40 percent in the past eight years and the Cherokee Nation will assume ownership and keep the site open.
A potential purchase price was not released.