2010 US Code
Title 50 - WAR AND NATIONAL DEFENSE
TITLE 50 - APPENDIX-WAR AND NATIONAL DEFENSE
SERVICEMEMBERS CIVIL RELIEF ACT
Sec. 534 - Settlement of stayed cases relating to personal property
View Metadata| Publication Title | United States Code, 2006 Edition, Supplement 4, Title 50 - WAR AND NATIONAL DEFENSE |
| Category | Bills and Statutes |
| Collection | United States Code |
| SuDoc Class Number | Y 1.2/5: |
| Contained Within | Title 50 - WAR AND NATIONAL DEFENSE TITLE 50 - APPENDIX-WAR AND NATIONAL DEFENSE SERVICEMEMBERS CIVIL RELIEF ACT ACT OCT. 17, 1940, CH. 888, 54 STAT. 1178 TITLE III - RENT, INSTALLMENT CONTRACTS, MORTGAGES, LIENS, ASSIGNMENT, LEASES, TELEPHONE SERVICE CONTRACTS Sec. 534 - Settlement of stayed cases relating to personal property |
| Contains | section 534 |
| Date | 2010 |
| Laws in Effect as of Date | January 7, 2011 |
| Positive Law | No |
| Disposition | standard |
| Source Credit | Oct. 17, 1940, ch. 888, title III, §304, as added Pub. L. 108-189, §1, Dec. 19, 2003, 117 Stat. 2848. |
| Statutes at Large References | 54 Stat. 1178 56 Stat. 772 105 Stat. 40 117 Stat. 2848 |
| Public Law References | Public Law 102-12, Public Law 108-189 |
§534. Settlement of stayed cases relating to personal property (a) Appraisal of property
When a stay is granted pursuant to this Act [sections 501 to 515 and 516 to 597b of this Appendix] 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 paymentBased 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.)
Prior ProvisionsA prior section 534, act Oct. 17, 1940, ch. 888, art. III, §304, as added Oct. 6, 1942, ch. 581, §12, 56 Stat. 772; amended Pub. L. 102–12, §9(9), Mar. 18, 1991, 105 Stat. 40, related to termination of leases by lessees, prior to the general amendment of this Act by Pub. L. 108–189. See section 535 of this Appendix.
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