Evening star., 1942-10-24
Soldiers and Sailors
Relief Act Analysed
In Realtors Report
Shows Laws Effects
On Real Estate and
Related Businesses

The National Association of Real
Estate Boards today has issued its
analysis of the Soldiers and Sailors
Relief Act as its provisions affect
real estate and associated businesses.
Nathan William MacChesney.
general counsel for the association,
called attention to four provisions of
particular interest to the business
These include allowing soldiers and
sailors to contract with reference to
prior undertakings while in the mill
tary service, providing relief for
those who are affected by the law
without being in the service, apply
ing to the cancellation of leases
and clarifying the statutory limita-
tion on redemptions.
The act now protects not only
persons in military service but also
those who have been notified to re-
port for service, whether drafted or
enlisted. 1t now includes accommo-
cation makers and others, whether
pFiu1arily or secondarily liable, with
~ those who may have relief from
the enforcement of an obligation
because Of military service.
But 1t allows sureties, guarantors,
indorsers, accommodation makers
and other persons to waive the pro-
visions concerning stays of enforce
nent under certain carefully speci-
NED conditions. The amendment
only applies to waivers obtained
after the enactment of the 1912 bill.
Section LOT added to Article I al
lows contracts, leases, bailment and
obligations secured by mortgages,
trust deeds, liens or other securities
IN the nature of mortgages to be
u1pdif1ed, terminated or cancelled by
written agreement of the parties or
their assignees during or after mill
tary service, including the time from
the receipt of the notice to report.
Repossession, retention, foreclo-
sure sale, forfeiture or taking pos
session of property which is security
for any obligation, or which property
has been purchased or received un-
der a contract, lease or bailment,
may also be accomplished in the
manner above specified.
Section 205 has been redrafted to
exclude the period of military serv-
Ice when computing time limitations,
whether established by statute, regu-
lation or order, for bringing actions
or proceedings in courts, boards, bu-
reaus, commissions, departments or
other governmental agencies by or
against the person in service.
No period of service after the pas
sage of the amendment shall be
used to figure the time within which
redemption of real property must be
made from sale or forfeiture to
enforce any obligation, tax or as
sessment.
Section 2O6 has been added to
Article II, preventing the collection
Of more than per cent yearly in
terest on obligations incurred prior
to entering the service unless court
finds that the military service has
not impaired the obligor's ability to
pay more than the rate mentioned.
Interest is defined to include service,
renewal and other charges or fees
but not bona fide insurance.
Section 300, subsection 2, now per-
naits the owners of the property to
obtain relief similar to that granted
q tenant, contract purchaser, bailee,
mortgagor or taxpayer with regard
to concelling the lease, contract or
bailment, foreclosing the mortgage
or selling or forfeiting land for un-
paid taxes. Subsection of the
same section is made applicable to
persons who attempt knowingly to