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42 U.S.C. § 2325 — Sales price

submitted 71 years ago by ch. 543 to r/title-42-THE-PUBLIC-HEALTH-AND-WELFARE · 174 words · no verdicts yet

in plain englishAI-generated · not legal advice

This section sets sales prices for certain Government-owned properties sold to priority purchasers. It also gives special rules for improvements and for commercial-property lease renegotiations.

(a) Government-owned single or duplex houses. For a priority purchaser buying property with a Government-owned single-family or duplex house, the price is the appraised value minus 15 percent of that value and minus the deductions in section 2326. (b) Other properties. In other cases, the price to a priority purchaser is the appraised value minus the deductions in section 2326. But sales under sections 2343(b) and (c) must use the prices stated in those sections. (c) Appraised value of an interest in commercial property. If a lessee asks to renegotiate a commercial lease under section 2201(e), the appraised value of the Government’s interest must be based on the renegotiated lease, if the parties agree to one. If renegotiation is requested, the sale process cannot begin until renegotiation is complete.
the actual law source: uscode.house.gov ↗public domain
(a) Government-owned single or duplex houses

In the sale to priority purchasers of properties on which are located Government-owned single or duplex houses, the sales price shall be the appraised value less a deduction of 15 per centum of the appraised value and less the deductions provided by section 2326 of this title.

(b) Other properties

In all other cases the sales price to priority purchasers shall be the appraised value less the deductions provided by section 2326 of this title, except that sales made under sections 2343(b) and 2343(c) of this title shall be made at the prices set forth therein.

(c) Appraised value of interest in commercial property

The appraised value of the Government’s interest in commercial property shall, in the cases where renegotiation of the lease is requested by the lessee under the provisions of section 2201(e) of this title be based upon the renegotiated lease if any is agreed on. Where such renegotiations are requested, the sales proceedings shall not be initiated until the completion of the renegotiation.

Source credit: (Aug. 4, 1955, ch. 543, ch. 3, § 35, 69 Stat. 474; Pub. L. 85–162, title II, § 202, Aug. 21, 1957, 71 Stat. 410.)

history & why it existsrecord from the source credit
  • 1955Enacted · Act of Aug. 4, 1955, ch. 543 · 69 Stat. 474
  • 1957Amended · Pub. L. 85-162 · 71 Stat. 410

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

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