  We report the detection of hot H$_{2}$O and OH emission from the Herbig Ae/Be
star HD$~101412$ using the Cryogenic Infrared Echelle Spectrograph on the
$\textit{Very Large Telescope}$. Previous studies of Herbig Ae/Be stars have
shown the presence of OH around some of these sources, but H$_{2}$O has proven
more elusive. While marginal water emission has been reported in the
mid-infrared, and a few Herbig Ae/Be stars show water emission in the
far-infrared, water emission near 2.9 $\mu$m has not been previously detected.
We apply slab models to the ro-vibrational OH, H$_{2}$O, and CO spectra of this
source and show that the molecules are consistent with being cospatial. We
discuss the possibility that the detection of the CO overtone bandhead
emission, detection of water emission, and the large line to continuum contrast
of the OH lines may be connected to its high inclination and the $\lambda$
Bo\"o nature of this star. If the low abundance of refractories results from
the selective accretion of gas relative to dust, the inner disk of HD$~101412$
should be strongly dust-depleted allowing us to probe deeper columns of
molecular gas in the disk, enhancing its molecular emission. Our detection of
C- and O-bearing molecules from the inner disk of HD$~101412$ is consistent
with the expected presence in this scenario of abundant volatiles in the
accreting gas.
