2015 US Code
Title 50 - War and National Defense (Sections 1 - 4705)
Chapter 50 - Servicemembers Civil Relief (Sections 3901 - 4043)
Subchapter III - Rent, Installment Contracts, Mortgages, Liens, Assignment, Leases, Telephone Service Contracts (Sections 3951 - 3959)
Sec. 3954 - Settlement of stayed cases relating to personal property

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Publication TitleUnited States Code, 2012 Edition, Supplement 3, Title 50 - WAR AND NATIONAL DEFENSE
CategoryBills and Statutes
CollectionUnited States Code
SuDoc Class NumberY 1.2/5:
Contained WithinTitle 50 - WAR AND NATIONAL DEFENSE
CHAPTER 50 - SERVICEMEMBERS CIVIL RELIEF
SUBCHAPTER III - RENT, INSTALLMENT CONTRACTS, MORTGAGES, LIENS, ASSIGNMENT, LEASES, TELEPHONE SERVICE CONTRACTS
Sec. 3954 - Settlement of stayed cases relating to personal property
Containssection 3954
Date2015
Laws In Effect As Of DateJanuary 3, 2016
Positive LawNo
Dispositionstandard
Source CreditOct. 17, 1940, ch. 888, title III, §304, as added Pub. L. 108-189, §1, Dec. 19, 2003, 117 Stat. 2848.
Statutes at Large References56 Stat. 772
105 Stat. 40
117 Stat. 2848
Public and Private LawsPublic Law 102-12, Public Law 108-189

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50 U.S.C. § 3954 (2015)

§3954. Settlement of stayed cases relating to personal property

(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.)

CODIFICATION

Section was formerly classified to section 534 of the former Appendix to this title prior to editorial reclassification and renumbering as this section.

PRIOR PROVISIONS

A prior section 304 of act Oct. 17, 1940, ch. 888, art. III, 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 3955 of this title.

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