§ 587.403. Termination and acquisition of an interest in blocked property.
144 words·~1 min read·
/us/cfr/t31/s§ 587.403·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(a)Whenever a transaction licensed or authorized by or pursuant to this part results in the transfer of property (including any property interest) away from a person whose property and interests in property are blocked pursuant to § 587.201, such property shall no longer be deemed to be property blocked pursuant to § 587.201, unless there exists in the property another interest that is blocked pursuant to § 587.201, the transfer of which has not been effected pursuant to license or other authorization.
(b)Unless otherwise specifically provided in a license or authorization issued pursuant to this part, if property (including any property interest) is transferred or attempted to be transferred to a person whose property and interests in property are blocked pursuant to § 587.201, such property shall be deemed to be property in which such person has an interest and therefore blocked.