Veterans’ Land Act — V-1.5 13
Director may sell all or part of property sold to a veteran 13 (1) Notwithstanding anything in this Part, where the Director has by a contract made under this Part sold property to a veteran certified by the Director to be qualified to participate in the benefits of this Part, the Director, with the consent of the veteran, may in accordance with section 11 or 26 sell to another veteran certified by the Director to be qualified to participate in the benefits of this Part or may sell or otherwise dispose of to any other person, all or any part of the land, improvements, building materials, livestock or farm equipment that was sold by such contract to the first-mentioned veteran. Use of proceeds from sale of land (2) Where the property sold or otherwise disposed of pursuant to subsection (1) consists of land, improvements or building materials, the Director shall, subject to subsection (3), use the proceeds for one or more of the following purposes: (a) to purchase for the veteran other or additional lands, which shall for the purposes of the contract be substituted for any lands so sold; (b) to effect improvements to the land retained by the veteran or to such other or additional lands; (c) to pay debts that, in the opinion of the Director, were reasonably incurred by the veteran to effect improvements on the land retained by him; (d) to reduce the amount owing under the contract or to reduce the cost to the Director as provided in this section; or (e) to pay real estate commission, legal costs and any other costs related to the sale or disposition of the property. Exception (3) Where the land sold or otherwise disposed of consists of mines and minerals or where the land, improvements or building materials sold or otherwise disposed of do not constitute part of the cost to the Director as determined under section 10, the Director may use the proceeds for one or more of the following purposes, in addition to or in lieu of any of the purposes specified in subsection (2): (a) to purchase for the veteran cattle, sheep or swine to be used as basic herd livestock; (b) to purchase for the veteran farm equipment necessary for the economic operation of the veteran’s farm; or (c) to pay debts that, in the opinion of the Director, were reasonably incurred by the veteran for any of the purposes specified in paragraphs (a) and (b). Application of surplus (4) Where a surplus remains after the amounts to be expended, if any, under paragraphs (2)(a) and (b) and (3)(a) to (c) have been determined by the Director, (hereinafter called the “surplus”), (a) if the ten-year period mentioned in subsection 11(5) has expired, the surplus shall be applied in reduction of the amount owing under the contract; (b) if the ten-year period has not expired, and the sale or other disposition was to Her Majesty in right of Canada for public purposes or to a government, authority or corporation described in subsection 29(1), the surplus shall be applied in reduction of the amount owing under the contract and the ten-year period shall be deemed to have expired; and (c) if the ten-year period has not expired, and the sale or other disposition was not to Her Majesty in right of Canada for public purposes or to a government, authority or corporation described in subsection 29(1), the Director shall determine what portion, if any, of the surplus shall be applied in reduction of the amount owing under the contract, and the remainder of the surplus shall be applied in reduction of the cost to the Director. Reduction of cost to Director (5) Where under this section the surplus or any portion thereof is applied in reduction of the cost to the Director, (a) an amount that bears the same proportion to such surplus or portion as the contract sale price bears to the cost to the Director of the land, improvements and building materials, or (b) seventy-six and two-thirds per cent of such surplus or portion whichever is the lesser, shall be applied in reduction of the amount owing