Section 987.73 Of Article 3.1. Veterans’ Farm And Home Purchase Act Of 1974 From California Military And Veterans Code >> Division 4. >> Chapter 6. >> Article 3.1.
987.73
. (a) Except as provided in subdivision (b), the department
in each individual case may specify the terms of the contract entered
into with the purchaser, but no property sold under this article
shall, voluntarily or involuntarily, by operation of law or
otherwise, be transferred, assigned, encumbered, leased, let or
sublet, in whole or in part, nor shall any mobilehome be removed from
its original site, except in case of emergency where temporary
removal is necessary to avoid potential damage, without the written
consent of the department, until the purchaser has paid therefor in
full and has complied with all the terms and conditions of this
contract of purchase. The department may give its written consent to
such transfers, assignments, encumbrances, leasings, lettings or
sublettings, or removals, for good cause shown, subject to the
interest of the department and consistent with the purposes of this
article.
(b) The consent of the department shall not be required where a
veteran, alone or jointly with his spouse, transfers his interest in
property which is the subject of a loan agreement with the department
into a revocable trust established for the benefit of the veteran or
of the veteran and his spouse.
(c) The department may consent to an assignment in favor of a
nonveteran spouse if a veteran purchaser qualifies as "a person in
long-term care" as defined in Section 14050.3 of the Welfare and
Institutions Code if the department is satisfied that the interest of
the veteran is adequately protected. If consent is given to the
assignment, the contract shall continue at the same rate of interest
and upon the same terms and conditions as are provided to veteran
purchasers. Consent by the department to the assignment shall be
deemed given if the assignment is pursuant to a court order, and if
notice of the hearing was provided to the department at least 30 days
prior to the hearing at which the court order was issued.