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38 U.S.C. § 3706 — Escrow of deposits and downpayments
Federal law — U.S. Code and appendices · legal_authorities
**(a)** Any deposit or downpayment made by an eligible veteran in connection with the purchase of proposed or newly constructed and previously unoccupied residential property in a project on which the Secretary has issued a Certificate of Reasonable Value, which purchase is to be financed with a loan guaranteed, insured, or made under the provisions of this chapter, shall be deposited forthwith by the seller, or the agent of the seller, receiving such deposit or payment, in a trust account to safeguard such deposit or payment from the claims of creditors of the seller. The failure of the seller or the seller’s agent to create such trust account and to maintain it until the deposit or payment has been disbursed for the benefit of the veteran purchaser at settlement or, if the transaction does not materialize, is otherwise disposed of in accordance with the terms of the contract, may constitute an unfair marketing practice within the meaning of [section 3704(b) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title38-section3704/b&num=0&edition=prelim).
**(b)** If an eligible veteran contracts for the construction of a property in a project on which the Secretary has issued a Certificate of Reasonable Value and such construction is to be financed with the assistance of a construction loan to be guaranteed, insured, or made under the provisions of this chapter, it may be considered an unfair marketing practice under [section 3704(b) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title38-section3704/b&num=0&edition=prelim) if any deposit or downpayment of the veteran is not maintained in a special trust account by the recipient until it is either (1) applied on behalf of the veteran to the cost of the land or to the c
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Source file: Laws/federal/codes/united-states-code/title-38/section-3706-escrow-of-deposits-and-downpayments--ad7eaf56b2.md
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Source location: Title 38, Chapter 37, § 3706; chapter-037-housing-and-small-business-loans.md
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**(a)** Any deposit or downpayment made by an eligible veteran in connection with the purchase of proposed or newly constructed and previously unoccupied residential property in a project on which the Secretary has issued a Certificate of Reasonable Value, which purchase is to be financed with a loan guaranteed, insured, or made under the provisions of this chapter, shall be deposited forthwith by the seller, or the agent of the seller, receiving such deposit or payment, in a trust account to safeguard such deposit or payment from the claims of creditors of the seller. The failure of the seller or the seller’s agent to create such trust account and to maintain it until the deposit or payment has been disbursed for the benefit of the veteran purchaser at settlement or, if the transaction does not materialize, is otherwise disposed of in accordance with the terms of the contract, may constitute an unfair marketing practice within the meaning of [section 3704(b) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title38-section3704/b&num=0&edition=prelim).
**(b)** If an eligible veteran contracts for the construction of a property in a project on which the Secretary has issued a Certificate of Reasonable Value and such construction is to be financed with the assistance of a construction loan to be guaranteed, insured, or made under the provisions of this chapter, it may be considered an unfair marketing practice under [section 3704(b) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title38-section3704/b&num=0&edition=prelim) if any deposit or downpayment of the veteran is not maintained in a special trust account by the recipient until it is either (1) applied on behalf of the veteran to the cost of the land or to the cost of construction or (2), if the transaction does not materialize, is otherwise disposed of in accordance with the terms of the contract.
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Federal law — U.S. Code and appendices · legal_authorities
**(a)** The Secretary shall pay a monthly allowance under this section to any child of a Vietnam veteran for any disability resulting from spina bifida suffered by such child.
**(b)**
(1) The amount of the allowance paid to a child under this section shall be based on the degree of disability suffered by the child, as determined in accordance with such schedule for rating disabilities resulting from spina bifida as the Secretary may prescribe.
(2) The Secretary shall, in prescribing the rating schedule for the purposes of this section, establish three levels of disability upon which the amount of the allowance provided by this section shall be based.
(3) The amounts of the allowance shall be $200 per month for the lowest level of disability prescribed, $700 per month for the intermediate level of disability prescribed, and $1,200 per month for the highest level of disability prescribed. Such amounts are subject to adjustment under [section 5312 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title38-section5312&num=0&edition=prelim).
Source: Supplied U.S. Code snapshot — release unconfirmed · 38 U.S.C. § 1806
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Federal law — U.S. Code and appendices · legal_authorities
**(a)** For the purpose of this chapter, the term “housing loan” means a loan for any of the purposes specified by sections 3710(a) and 3712(a)(1) of this title.
**(b)** For the purposes of housing loans under this chapter—
(1) The term “World War II” (A) means the period beginning on September 16, 1940, and ending on July 25, 1947, and (B) includes, in the case of any veteran who enlisted or reenlisted in a Regular component of the Armed Forces after October 6, 1945, and before October 7, 1946, the period of the first such enlistment or reenlistment.
(2) The term “veteran” includes the surviving spouse of any veteran (including a person who died in the active military, naval, air, or space service) who died from a service-connected disability, but only if such surviving spouse is not eligible for benefits under this chapter on the basis of the spouse’s own active duty. The active duty or service in the Selected Reserve of the deceased spouse shall be deemed to have been active duty or service in the Selected Reserve by such surviving spouse for the purposes of this chapter.
(3) The term “veteran” also includes, for purposes of home loans, the spouse of any member of the Armed Forces serving on active duty who is listed, pursuant to [section 556 of title 37](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title37-section556&num=0&edition=prelim), United States Code, and regulations issued thereunder, by the Secretary concerned in one or more of the following categories and has been so listed for a total of more than ninety days: (A) missing in action, (B) captured in line of duty by a hostile force, or (C) forcibly detained or interned in line of duty by a foreign government or power. The active duty of the member shall be deemed to have been active dut
Source: Supplied U.S. Code snapshot — release unconfirmed · 38 U.S.C. § 3701
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Federal law — U.S. Code and appendices · legal_authorities
### Statutory Notes
Section, added Pub. L. 104–204, title IV, § 421(b)(1), Sept. 26, 1996, 110 Stat. 2926; amended Pub. L. 105–114, title IV, § 404(b)(1), Nov. 21, 1997, 111 Stat. 2294, related to applicability of certain administrative provisions.
Prior section 1806 was renumbered [section 3706 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title38-section3706&num=0&edition=prelim).
Prior section 1807, added Pub. L. 94–324, § 2(a), June 30, 1976, 90 Stat. 720; amended Pub. L. 97–72, title III, § 303(d), Nov. 3, 1981, 95 Stat. 1060, related to service after July 25, 1947, and prior to June 27, 1950, prior to repeal by Pub. L. 100–322, title IV, § 415(a)(4), May 20, 1988, 102 Stat. 550.
Prior section 1810 was renumbered [section 3710 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title38-section3710&num=0&edition=prelim).
#### Effective Date of Repeal
Repeal effective on the first day of the first month beginning more than one year after Nov. 1, 2000, see section 401(g) of Pub. L. 106–419, set out as an Effective Date note under [section 1811 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title38-section1811&num=0&edition=prelim).
Source: Supplied U.S. Code snapshot — release unconfirmed · 38 U.S.C. § 1811
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Federal law — U.S. Code and appendices · legal_authorities
Page 892
TITLE 38—VETERANS’ BENEFITS
§ 3706
fications. Such warranty shall apply only with
respect to such instances of substantial noncon-
formity to such approved plans and specifica-
tions (including any amendments thereof, or
changes or variations therein, which have been
approved in writing, as provided in this section,
by the Secretary) as to which the purchaser or
home owner has given written notice to the war-
rantor within one year from the date of convey-
ance of title to, or initial occupancy of, the
dwelling, whichever first occurs. Such warranty
shall be in addition to, and not in derogation of,
all other rights and privileges which such pur-
chaser or owner may have under any other law
or instrument. The provisions of this section
shall apply to any such property covered by a
mortgage insured or guaranteed by the Sec-
retary on and after October 1, 1954, unless such
mortgage is insured or guaranteed pursuant to a
commitment therefor made before October 1,
1954.
(b) The Secretary shall permit copies of the
plans and specifications (including written ap-
provals of any amendments thereof, or changes
or variations therein, as provided in this sec-
tion) for dwellings in connection with which
warranties are required by subsection (a) of this
section to be made available in their appropriate
local offices for inspection or for copying by any
purchaser, home owner, or warrantor during
such hours or periods of time as the Secretary
may determine to be reasonable.
(Pub. L. 85–857, Sept. 2, 1958, 72 Stat. 1206, § 1805;
Pub. L. 94–324, § 7(9), June 30, 1976, 90 Stat. 721;
Pub. L. 101–237, title III, § 313(b)(1), Dec. 18, 1989,
103 Stat. 2077; Pub. L. 102–54, § 15(a)(1), June 13,
1991, 105 Stat. 288; renumbered § 3705, Pub. L.
102–83, § 5
Source: Supplied 2024 U.S. Code historical extraction · 38 U.S.C. § 3706
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