2019 US Code
Title 50 - War and National Defense
Chapter 50 - Servicemembers Civil Relief
Subchapter III - Rent, Installment Contracts, Mortgages, Liens, Assignment, Leases, Communications Service Contracts
Sec. 3954 - Settlement of stayed cases relating to personal property
| 50 U.S.C. § 3954 (2019) |
| §3954. Settlement of stayed cases relating to personal property |
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(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 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. |
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(Oct. 17, 1940, ch. 888, title III, §304, as added Pub. L. 108–189, §1, Dec. 19, 2003, 117 Stat. 2848.) |
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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 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. EFFECTIVE DATESection applicable to any case not final before Dec. 19, 2003, see section 3 of Pub. L. 108–189, set out as a note under section 3901 of this title. |
| United States Code, 2018 Edition, Supplement 1, Title 50 - WAR AND NATIONAL DEFENSE |
| Bills and Statutes |
| United States Code |
| Y 1.2/5: |
| Title 50 - WAR AND NATIONAL DEFENSE CHAPTER 50 - SERVICEMEMBERS CIVIL RELIEF SUBCHAPTER III - RENT, INSTALLMENT CONTRACTS, MORTGAGES, LIENS, ASSIGNMENT, LEASES, COMMUNICATIONS SERVICE CONTRACTS Sec. 3954 - Settlement of stayed cases relating to personal property |
| section 3954 |
| 2019 |
| January 24, 2020 |
| No |
| standard |
| 56 Stat. 772 105 Stat. 40 117 Stat. 2848 |
| Public Law 102-12, Public Law 108-189 |
