42 U.S.C. § 2363 — Indemnity obligation of Commission; incorporation by reference in deed

submitted 71 years ago by ch. 543 to r/title-42-THE-PUBLIC-HEALTH-AND-WELFARE · 107 words · no verdicts yet

in plain englishAI-generated · not legal advice

For a limited period, the Commission must protect certain buyers and later owners of qualifying Government-owned single-family or duplex houses against the covered loss. One person may use this protection for only one house.

For no more than 15 years after August 4, 1955—or, for Los Alamos, no more than 15 years after the date it was included in this chapter—the Commission must indemnify the buyer, and any later owner, of a qualifying single-family or duplex house. This excludes a buyer using 42 U.S.C. § 2326(d). The indemnity is treated as part of the deeds used to sell Government-owned houses. A person may not claim it for more than one house.

the actual law source: uscode.house.gov ↗public domain

For a period of not more than fifteen years after August 4, 1955, or, in the case of Los Alamos, not more than fifteen years after the date it is included within this chapter, the Commission shall indemnify the purchaser (except a purchaser taking advantage of the provisions of section 2326(d) of this title), and any successor in title, of any such single family or duplex house as set forth in this subchapter. This indemnity shall be deemed to be incorporated in the deeds given on the sale of Government-owned houses. One person may not invoke the indemnity in respect of more than one house.

Source credit: (Aug. 4, 1955, ch. 543, ch. 6, § 63, 69 Stat. 479; Pub. L. 87–719, § 17, Sept. 28, 1962, 76 Stat. 666.)

history & why it existsrecord from the source credit

1955Enacted · Act of Aug. 4, 1955, ch. 543 · 69 Stat. 479
1962Amended · Pub. L. 87-719 · 76 Stat. 666

A history note hasn’t been published yet. The record shows enactment by ch. 543 on 1955-08-04.

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