The Authority shall have the power to sell, alienate, cede, or transfer the land acquired to individuals and agricultural cooperatives in accordance with the provisions of §§ 241 et seq. of this title and for the purpose of making the purposes hereof effective. It shall have power, further, to lease said lands or cede them in usufruct, with or without the final purpose of sale, to individuals, agricultural cooperatives or persons participating in proportional-profit farms, as the latter are defined in and established by §§ 241 et seq. of this title. In the case of any disposition of real property or any interest therein, the beneficiaries thereof and any and all persons claiming under or through them shall be bound by any provisions contained in the instrument of conveyance or of any other nature placing conditions and restrictions on subsequent conveyances, transfers, or encumbrances of the property or any interest therein or defining the qualifications of persons entitled to acquire said premises or interest therein by any means whatsoever. The property or interest therein so disposed of shall be permanently encumbered by such restrictions imposed by the Authority as may be deemed by the Authority necessary or proper for the better use or enjoyment of the premises or interest therein disposed of. Each individual holding created under Title VI, each parcel provided for under § 463 of this title, and each parcel created under § 551 of this title shall be, and is hereby, protected from forced sale for the payment of all debts, except by the Authority itself or any Commonwealth or federal agency to recover the purchase money thereof, or for collection of taxes, if any be owing thereon; and no mortgage, trust deed or other lien thereon shall ever be valid, except when executed in favor of the Authority or of some Commonwealth or federal agency; nor shall any such holding or parcel be transferred, leased, or otherwise disposed of, except to a person who is eligible, under the terms of §§ 241 et seq. of this title and by consent of the Authority, to acquire such parcel or holding; Provided, That nothing herein contained shall prohibit the transfer of such holding or parcel not held under lease by the holder thereof, to his parents, or children, should these be eligible. Any conveyance, lease or other disposition of the land, or establishment of any lien of any kind thereon, or purported conveyance, lease, or other disposition thereof or establishment of any lien of any kind thereon, in contravention of the provisions of this section, shall vest no legal rights of any kind in the purported transferee, but shall, on the contrary, be grounds for seizure, in behalf of the Authority, of any interest, rights and actions the purported transferors or transferees have or may have in said land the Authority remaining then at liberty to dispose freely of said land, without having to indemnify any person whatsoever for any construction, building, plantation, or improvement made on the parcels under Title V, on the individual farms under Title VI, and on the holdings under Title IV of this act.
History —Apr. 12, 1941, No. 26, p. 388, § 24; May 11, 1942, No. 197, p. 996, § 9; May 11, 1943, No. 68, p. 158; Apr. 24, 1945, No. 32, p. 110; May 14, 1948, No. 198, p. 566, § 1.