§1588. Sale of vacant land to local housing authorities; sale of personal property

(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.

(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 .)

Editorial Notes

References in Text

Subchapters III and VI of this chapter, referred to in text, were comprised of sections 1531 to 1536 and 1571 to 1576, respectively, of this title and have been omitted from the Code. For further details, see note set out under section 1522 of this title.

Amendments

1955-Act Aug. 11, 1955, designated existing provisions as subsec. (a) and added subsec. (b).

Statutory Notes and Related Subsidiaries

Transfer of Functions

For transfer of functions to Secretary of Housing and Urban Development, see note set out under section 1581 of this title.