15 U.S.C. § 646 — Liens

submitted 68 years ago by Pub. L. 85-536 to r/title-15-COMMERCE-AND-TRADE · 64 words · no verdicts yet

in plain englishAI-generated · not legal advice

The Administration’s interest in property securing a loan can be below a State or local property-tax lien. This applies when State law would give that lien priority over the same interest held by someone other than the United States.

Any Administration interest in property securing a loan is subordinate to a lien for taxes due on that property to a State or its political subdivision if applicable State law would make that lien superior to the interest were the interest held by anyone other than the United States.

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

Any interest held by the Administration in property, as security for a loan, shall be subordinate to any lien on such property for taxes due on the property to a State, or political subdivision thereof, in any case where such lien would, under applicable State law, be superior to such interest if such interest were held by any party other than the United States.

Source credit: (Pub. L. 85–536, § 2[17], July 18, 1958, 72 Stat. 396.)

history & why it existsrecord from the source credit

1958Enacted · Pub. L. 85-536 · 72 Stat. 396

A history note hasn’t been published yet. The record shows enactment by Pub. L. 85-536 on 1958-07-18.

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