50 U.S.C. § 3953 — Mortgages and trust deeds
submitted 86 years ago by Pub. L. 108-189 to r/title-50-WAR-AND-NATIONAL-DEFENSE · 277 words · no verdicts yet
A translation hasn’t been published for this section yet. The official text below is complete and authoritative.
This section applies only to an obligation on real or personal property owned by a servicemember* that—
originated before the period of the servicemember’s military service* and for which the servicemember is still obligated; and
is secured by a mortgage, trust deed, or other security in the nature of a mortgage.
In an action filed during, or within one year after, a servicemember’s period of military service* to enforce an obligation described in subsection (a), the court* may after a hearing and on its own motion and shall upon application by a servicemember when the servicemember’s ability to comply with the obligation is materially affected by military service—
stay the proceedings for a period of time as justice and equity require, or
adjust the obligation to preserve the interests of all parties.
A sale, foreclosure, or seizure of property for a breach of an obligation described in subsection (a) shall not be valid if made during, or within one year after, the period of the servicemember’s military service except—
upon a court order granted before such sale, foreclosure, or seizure with a return made and approved by the court; or
if made pursuant to an agreement as provided in section 3918 of this title.
A person who knowingly makes or causes to be made a sale, foreclosure, or seizure of property that is prohibited by subsection (c), or who knowingly attempts to do so, shall be fined as provided in title 18, or imprisoned for not more than one year, or both.
Source credit: (Oct. 17, 1940, ch. 888, title III, § 303, as added Pub. L. 108–189, § 1, Dec. 19, 2003, 117 Stat. 2847; amended Pub. L. 110–289, div. B, title II, § 2203(a), July 30, 2008, 122 Stat. 2849; Pub. L. 111–275, title III, § 303(b)(4), Oct. 13, 2010, 124 Stat. 2878; Pub. L. 112–154, title VII, § 710(a), (b), (d)(3), Aug. 6, 2012, 126 Stat. 1208; Pub. L. 115–174, title III, § 313, May 24, 2018, 132 Stat. 1356.)
- 1940Enacted · Pub. L. 108-189 · 117 Stat. 2847
- 2008Amended · Pub. L. 110-289 · 122 Stat. 2849
- 2010Amended · Pub. L. 111-275 · 124 Stat. 2878
- 2012Amended · Pub. L. 112-154 · 126 Stat. 1208
- 2018Amended · Pub. L. 115-174 · 132 Stat. 1356
A history note hasn’t been published yet. The record shows enactment by Pub. L. 108-189 on 1940-10-17.
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