§2325 — Title 42 The Public Health and Welfare | U.S. Code

Summary

When the government sells its single-family or duplex houses to priority buyers, the price must be the appraised value minus 15% of that value and minus any other deductions listed in section 2326. For other sales to priority buyers, the price is the appraised value minus the deductions in section 2326, except sales under sections 2343(b) and 2343(c) use the prices those sections set. If a tenant asks to renegotiate a commercial lease under section 2201(e), the government’s appraised value for that commercial property must be based on the renegotiated lease if one is agreed. Sales cannot begin until the renegotiation is finished.

Title 42, §2325

The Public Health and Welfare — Source: USLM XML via OLRC

(a)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)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 section 2343(b) and 2343(c) of this title shall be made at the prices set forth therein.

(c)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.

Notes & Related Subsidiaries

Editorial Notes

Amendments

1957—Subsec. (c). Pub. L. 85–162 added subsec. (c).

Statutory Notes and Related Subsidiaries

Report With Respect to Renegotiations, Reappraisals, and Sales Proceedings Pub. L. 85–162, title II, § 203, Aug. 21, 1957, 71 Stat. 410, required Atomic Energy Commission, Federal Housing Administration, and Housing and Home Finance Agency to report to Joint Committee by Jan. 31, 1958, with respect to renegotiations, reappraisals, and sales proceedings authorized under subsec. (c) of this section.

§2325 Sales price