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
Publication Title | United States Code, 2012 Edition, Supplement 3, 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 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 |
Contains | section 3954 |
Date | 2015 |
Laws In Effect As Of Date | January 3, 2016 |
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 | 56 Stat. 772 105 Stat. 40 117 Stat. 2848 |
Public and Private Laws | Public Law 102-12, Public Law 108-189 |
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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 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.)
CODIFICATIONSection was formerly classified to section 534 of the former Appendix to this title prior to editorial reclassification and renumbering as this section.
PRIOR PROVISIONSA 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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