Page:United States Statutes at Large Volume 58 Part 1.djvu/799

 58 STAT.] 78TH CONG., 2D SESS.- CH. 479-OCT. 3,1944 779 (2) The following procedure shall govern the exercise of veterans' Procedure. preference rights under this subsection: The disposal agency, under unit price. regulations prescribed by the Board, shall fix the price of each unit into which the property is subdivided under subsection (e) after tak- ing into consideration the then current market value, the character of the property, and, if income producing property, the estimated earning capacity thereof. Before any such property is disposed of, chasPepitiO for pur. except under subsection (d), any veteran may apply for the purchase of any or all units offered for sale at the price so fixed. The Board shall prescribe the time within which application shall be made and shall give such notice thereof as it deems reasonable to enable veterans to exercise their rights under this subsection. The Board shall pro- cha'cstion of pur- vide for the selection of the purchaser of each unit by lot from among the applicants for the unit. If any applicant is selected as the pur- chaser of more than one unit, he shall elect which one to take, where- upon the right to purchase the remaining units shall go to the remain- ing applicants in the order in which their names were drawn. No ciestr e topreference veteran may apply for the purchase of any property under the pro- ri ghts. visions of this subsection if he has previously exercised a preference right under this section and has acquired property pursuant thereto. Sales to veterans under this subsection shall be upon such terms as Terms ofsales. the Board may prescribe. (g) In the case of the death of a person entitled under this section Right of spouse and to rights as a former owner or veteran, his spouse and children, in that order, shall succeed to such rights of the decedent existing at the time of his death. Any preference right under subsection (f) to which a person would have been entitled except for his death while in the active military or naval service of the United States, shall be extended to his spouse and children, in that order. No preference Nonassignabiity. right may be assigned or exercised by power of attorney or through a power to select except as may be permitted by regulations prescribed by the Board in order to prevent the loss of such right by the holder thereof. (h) A certificate by the disposal agency that the provisions of sub- chaseprTvilg paur sections (d), (f), and (g) have been complied with in the case of any property and that no qualified applicant has made application to exer- cise his privilege to purchase within the time limits fixed by or pursuant to this Act, shall terminate all privileges to purchase such property. (i) In the case of surplus real property which is classified as suit- rperp isposition able for agricultural use and which is not disposed of under subsection for uiation. (d) or (f), such property (after subdivision as provided in subsection (e) (1)) shall be disposed of insofar as possible only to persons who expect to cultivate the land and to operate it for a livelihood. The siFtan*cia etc.. a- Department of Agriculture is authorized and directed, within the limits of its current functions under the Bankhead-Jones Farm Tenant 7 u. 6 .c. H 1000- Act, to extend needed financial and other assistance to persons eligible 1029; Supp- III 1011. for such assistance under the Bankhead-Jones Farm Tenant Act and the Servicemen's Readjustment Act of 1944, in connection with the An.284. disposal of surplus agricultural lands pursuant to this subsection. Apprval of instru- (j) In the case of sales of real property under this section or under ment of transfer. any other provision of this Act, the form of deed or instrument of transfer shall be approved by the Attorney General. Deeds or other instruments containing general or special warranties of title may be issued and delivered to purchasers provided such warranties have been recommended and approved by the Attorney General. In deter- mining whether general or special warranty deeds to properties may be issued and delivered, the Attorney General is authorized to approve the issuance and delivery of warranty deeds where titles are subject to infirmities of such character that in his opinion the interests of the United States will not be jeopardized under its warranty.

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