§ 3954. Settlement of stayed cases relating to personal property
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/usc/title-50/section-3954A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(a)Appraisal of property When a stay is granted pursuant to this chapter in a proceeding to foreclose a mortgage on or to repossess personal property, or to rescind or terminate a contract for the purchase of personal property, the court may appoint three disinterested parties to appraise the property.
(b)Equity payment Based on the appraisal, and if undue hardship to the servicemember’s dependents will not result, the court may order that the amount of the servicemember’s equity in the property be paid to the servicemember, or the servicemember’s dependents, as a condition of foreclosing the mortgage, repossessing the property, or rescinding or terminating the contract.
(Oct. 17, 1940, ch. 888, title III, § 304, as added Pub. L. 108–189, § 1, Dec. 19, 2003, 117 Stat. 2848.)
Connections3 cite this · traces to 2
Cited by 3 sections
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10 references not yet in our index
- Oct. 17, 1940, ch. 888
- Pub. L. 108–189, § 1
- 117 Stat. 2848
- act Oct. 17, 1940, ch. 888
- Oct. 6, 1942, ch. 581, § 12
- 56 Stat. 772
- Pub. L. 102–12, § 9(9)
- 105 Stat. 40
- Pub. L. 108–189
- section 3 of Pub. L. 108–189
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§ 3954
Settlement of stayed cases relating to personal property
Stat. Comp.×2
U.S.C.×1
ActOct. 17, 1940, ch. 888
Pub. L.Pub. L. 108–189, § 1
Stat.117 Stat. 2848
Actact Oct. 17, 1940, ch. 888
ActOct. 6, 1942, ch. 581, § 12
Cites 12 · showing 7Cited by 3 across 2 sources