California § 987.79. 987.79. (Amended by Stats. 2024, Ch. 129, Sec. 80.)

California Statutes

§ 987.79. — 987.79. (Amended by Stats. 2024, Ch. 129, Sec. 80.)

California § 987.79.

JurisdictionCalifornia

Code MVCMilitary and Veterans Code - MVC

Div. 4.DIVISION 4. VETERANS' AID AND WELFARE

Ch. 6.CHAPTER 6. State Benefits for Veterans

Art. 3.1.ARTICLE 3.1. Veterans’ Farm and Home Purchase Act of 1974

This text of California § 987.79. (987.79. (Amended by Stats. 2024, Ch. 129, Sec. 80.)) is published on Counsel Stack Legal Research, covering California primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Cal. Military and Veterans Code - MVC Code § 987.79. (2026).

Text

(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.

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(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.