Section 987.79 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.
987.79
. (a) Except as otherwise provided in subdivision (b), the
department may, in the contract of purchase with a veteran, provide
that, in the event of default by the veteran and forfeiture of his or
her rights under the contract and subsequent sale of the property by
the department, it may pay to the veteran any net gain realized by
the department upon the sale. The department is the sole judge of the
net gain.
(b) The net gain realized by the department upon the sale of a
cooperative dwelling unit owned by a limited equity housing
cooperative shall be determined in accordance with regulations
adopted by the department pursuant to Section 987.93.