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42 U.S.C. § 1588 — Sale of vacant land to local housing authorities; sale of personal property

submitted 86 years ago by ch. 862 to r/title-42-THE-PUBLIC-HEALTH-AND-WELFARE · 155 words · no verdicts yet

in plain englishAI-generated · not legal advice

This section permits fair-value sales of certain vacant housing land and unsold personal property to low-income-housing or slum-clearance agencies. Personal-property sales must be paid for in cash at settlement.

(a) Land acquired for war or veterans' housing that has no dwelling on it when sold may, despite other law, be sold at fair value set by the Secretary of Housing and Urban Development to an agency organized to clear slums or provide subsidized housing for low-income people. (b) Personal property held for such housing and not sold with a project or building may likewise be sold at the Secretary's fair value to such an agency. The buyer must pay cash at settlement.
the actual law source: uscode.house.gov ↗public domain
(a)

Notwithstanding any other provision of law, any land acquired under subchapters II to VII of this chapter or any other Act in connection with war or veterans’ housing, but upon which no dwellings are located at the time of sale, may be sold at fair value, as determined by the Secretary of Housing and Urban Development to any agency organized for slum clearance or to provide subsidized housing for persons of low income.

(b)

Notwithstanding any other provision of law, any personal property held under subchapters II to VII of this chapter, and not sold with a project or building, may be sold at fair value, as determined by the Secretary of Housing and Urban Development to any agency organized for slum clearance or to provide subsidized housing for persons of low income. Any sale of personal property under this subsection shall be made on a cash basis, payable at the time of settlement.

Source credit: (Oct. 14, 1940, ch. 862, title VI, § 608, as added June 28, 1948, ch. 688, § 7, as added Apr. 20, 1950, ch. 94, title II, § 201, 64 Stat. 59; amended Aug. 11, 1955, ch. 787, 69 Stat. 668; Pub. L. 89–174, § 5(a), Sept. 9, 1965, 79 Stat. 669.)

history & why it existsrecord from the source credit
  • 1940Enacted · Act of Oct. 14, 1940, ch. 862 · 64 Stat. 59
  • 1955Amended · Act of Aug. 11, 1955, ch. 787 · 69 Stat. 668
  • 1965Amended · Pub. L. 89-174 · 79 Stat. 669

A history note hasn’t been published yet. The record shows enactment by ch. 862 on 1940-10-14.

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