50 USC App 533: Settlement of cases involving stayed proceedings to foreclose mortgage on, resume possession of, or terminate contract for purchase of, personal property
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50 USC App 533: Settlement of cases involving stayed proceedings to foreclose mortgage on, resume possession of, or terminate contract for purchase of, personal property Text contains those laws in effect on January 23, 2000
From Title 50-AppendixSOLDIERS' AND SAILORS' CIVIL RELIEF ACT OF 1940ACT OCT. 17, 1940, CH. 888, 54 STAT. 1178ARTICLE III-RENT, INSTALLMENT CONTRACTS, MORTGAGES, LIENS, ASSIGNMENTS, LEASES
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§533. Settlement of cases involving stayed proceedings to foreclose mortgage on, resume possession of, or terminate contract for purchase of, personal property

Where a proceeding to foreclose a mortgage upon or to resume possession of personal property, or to rescind or terminate a contract for the purchase thereof, has been stayed as provided in this Act [sections 501 to 593 of this Appendix], the court may, unless in its opinion an undue hardship would result to the dependents of the person in military service, appoint three disinterested parties to appraise the property and, based upon the report of the appraisers, order such sum, if any, as may be just, paid to the person in military service or his dependent, as the case may be, as a condition of foreclosing the mortgage, resuming possession of the property, or rescinding or terminating the contract.

(Oct. 17, 1940, ch. 888, art. III, §303, as added Oct. 6, 1942, ch. 581, §12, 56 Stat. 772 .)

Prior Provisions

A prior section 533, act Oct. 17, 1940, ch. 888, art. III, §303, 54 Stat. 1183 , related to stay of action to resume possession of motor vehicle, tractor, or their accessories, encumbered by purchase money mortgage, conditional sales contract, etc., prior to repeal by act Oct. 6, 1942, ch. 581, §11, 56 Stat. 772 .