38-U.S.C.-3727
§3727 – Expenditures to Correct Or Compensate For Structural Defects In Mortgaged Homes
Pathway
Title 38 > Part III > Chapter 37 > Subchapter III > Section 3727
Details
- Reference: Section 3727
- Legend: §3727 – Expenditures to Correct Or Compensate For Structural Defects In Mortgaged Homes
- USCode Year: 2013
Provision Content
(a) The Secretary is authorized, with respect to any property improved by a one- to four-family dwelling inspected during construction by the Department of Veterans Affairs or the Federal Housing Administration which the Secretary finds to have structural defects seriously affecting the livability of the property, to make expenditures for (1) correcting such defects, (2) paying the claims of the owner of the property arising from such defects, or (3) acquiring title to the property; except that such authority of the Secretary shall exist only (A) if the owner requests assistance under this section not later than four years (or such shorter time as the Secretary may prescribe) after the mortgage loan was made, guaranteed, or insured, and (B) if the property is encumbered by a mortgage which is made, guaranteed, or insured under this chapter after May 7, 1968.
(b) The Secretary shall by regulation prescribe the terms and conditions under which expenditures and payments may be made under the provisions of this section, and the Secretarys decisions regarding such expenditures or payments, and the terms and conditions under which the same are approved or disapproved, shall be final and conclusive, and shall not be subject to judicial review.
(c) The Secretary is authorized to make expenditures for the purposes of this section from the fund established pursuant to section 3722 of this title.
(Added Pub. L. 90–301, §5(a), May 7, 1968, 82 Stat. 116, §1827; amended Pub. L. 94–324, §7(31), June 30, 1976, 90 Stat. 722; Pub. L. 101–237, title III, §313(b)(1), (2), Dec. 18, 1989, 103 Stat. 2077; renumbered §3727 and amended Pub. L. 102–83, §5(a), (c)(1), Aug. 6, 1991, 105 Stat. 406; Pub. L. 105–368, title VI, §602(e)(1)(C), title X, §1005(b)(11), Nov. 11, 1998, 112 Stat. 3346, 3365.)
Amendments
1998—Subsec. (a). Pub. L. 105–368, §1005(b)(11), substituted May 7, 1968 for the date of enactment of this section.
Subsec. (c). Pub. L. 105–368, §602(e)(1)(C), substituted fund established pursuant to section 3722 of this title for funds established pursuant to sections 3723 and 3724 of this title, as applicable.
1991—Pub. L. 102–83, §5(a), renumbered section 1827 of this title as this section.
Subsec. (c). Pub. L. 102–83, §5(c)(1), substituted 3723 and 3724 for 1823 and 1824.
1989—Pub. L. 101–237 substituted Secretary, Secretarys, and Department of Veterans Affairs for Administrator, Administrators, and Veterans’ Administration, respectively, wherever appearing.
1976—Subsec. (a). Pub. L. 94–324 substituted the Administrator finds for he finds.
Subsec. (b). Pub. L. 94–324 substituted the Administrators for his.
Effective Date of 1998 Amendment
Amendment by section 602 of Pub. L. 105–368 effective Oct. 1, 1998, see section 602(f) of Pub. L. 105–368, set out as a note under section 2106 of this title.
Effective Date of 1976 Amendment
Amendment by Pub. L. 94–324 effective June 30, 1976, see section 9(a) of Pub. L. 94–324, set out as a note under section 3701 of this title.
U.S. Encyclopedia of Law Coverage
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