Section 987.86 - Subsequent opportunity to purchase following sale, refinance or divestment of farm or home(a) Any veteran for whom a farm or home is purchased under this article may be granted a subsequent opportunity to purchase another farm or home when the farm or home purchased under this article is sold, refinanced, or the veteran's interest is divested through divorce or dissolution of marriage. The maximum amount that the department may advance under this subdivision is limited to the maximum amounts set forth in Section 987.65 at the time the application is made for the subsequent loan.(b) Only one farm or home purchased under this article shall be owned by a veteran or a veteran and the veteran's spouse at any one time. This subdivision does not apply to an interest of a former spouse.Ca. Mil. and Vet. Code § 987.86
Amended by Stats. 1997, Ch. 156, Sec. 4. Effective January 1, 1998.