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Mil. & Vet. Code, § 987.79 · Article 3.1. Veterans’ Farm and Home Purchase Act of 1974

Mil. & Vet. Code, § 987.79

Verbatim from the official edition

Text — As published in the Legislative Counsel's database, tables dated October 18, 2026 (pubinfo_2025.zip)

(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 their 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.

Notes and commentary — not statutory text

History

Amended by Stats. 2024, Ch. 129, Sec. 80. (SB 1097) Effective January 1, 2025.

Source of truth

Edition
As published in the Legislative Counsel's database, tables dated October 18, 2026 (pubinfo_2025.zip)
Official file
https://leginfo.legislature.ca.gov/faces/codes_displaySection.xhtml?lawCode=MVC&sectionNum=987.79.
Text hash
sha256 675c2866b3f93e7de479e9cb6dcdedc1dec50be25c9f94bbe69df47ae3671d79
Composed by
compose_ca.py 2026-10-22: the Legislative Counsel's CAML content files read by a tokenizer (caml_readers.reader_a); an independent xml.etree reading (caml_readers.reader_b) agrees on every section

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Military and Veterans Code

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Military and Veterans Code

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