The Durant news. (Durant, Miss.) 1882-1985, 1946-08-15
Hundreds Of Holmes
Veterans Hove Asked
For information

Mrs. Maude E. Legate, Holmes CO.
unity service officer, whose office is
in the Jury room at the Courthouse
in Lexington, today received infor-
nation concerning the legislation
passed by the Mississippi State Leg
islature enabling the state to aid
qualified veterans to buy farms and
homes under certain conditions.
The complete explanation given
by Mrs. Legate is given below for
the benefit of all veterans who are
interested in purchasing such prop
erty:
The 1916 session of the Mississippi
Legislature approved House Bill No.
l6l, known as the Veterans Farm
and Home Purchase Act, to aid vet
Grams who have been unable to OBJ
tain four per cent 4%) loans from
private lending agencies to buy a
small farm or home.
The Act will not serve all veterans
but only those most in need, and
particularly those desiring small
farms or homes since many of the
rural are not served by long,
term lending agencies.
1t was the opinion of Legislators
and legal advisors that the state
could not, under the Constitution,
lend money to a private citizen, but
could, as a matter Of public policy in
aiding the returning veteran to re-
habilitate himself, buy property and
resell it to him. The end accomplis-
he'd would be the same as a loan,
but would not challenge the Consti-
tuition. This is why the state buys
the property for a veteran rather
than make an outright loan.
To be eligible, the veteran must
have been a resident citizen of Mis-
sippi for at least two years prior to
Pearl Harbor day, Dec. 7th, 1941. He
must have an honorable discharge
and have served for at least sixty
days.
The veteran must find the proper
ty he wishes to buy and negotiate
with the owner for a sale. The prop
erty to be purchased must be either
a farm or a home. The total cost
must not exceed 5000 90, and if
o than $4,000. 90, the veteran
will be required to pay in cash all
above 100000. No property cost
ing more than IS, ZOO. 90 will be con-
sidered at all by the State Farm
and Home Board even if the veteran
desired to put up the money. The
law specifies that a veteran who
owns real estate of any kind, includ-
ing that which he is applying to
purchase, is barred under the prog
ram if the total value of all the pro-
perty exceeds $5,000.0 90.
If the veteran is eligible and the
property does not exceed SIS, OOO. 90,
the veteran may obtain an applicat-
ion to purchase from the county SER
vice officer, the service officer of
any of the veterans organizations
or he may write direct to the Veter-
ans Farm and Home Board, Box lis
Jackson.
The veteran will fill out the appi-
cation in duplicate and attach to
certified or photostatic copy of his
discharge, With the application form,
he will receive one copy Of an Op-
ton to Purchase. This Option must
be filled out. signed and motorized
by the seller of the property. II is
not expected that the veteran will
pay the owner anything to execute
the Option, though he may pay him
the nominal fee of $1.00 if both
parties agree. The option merely
binds the seller to a definite price
and the promise to sell if the vet
GRAMS application is approved. The
limit to the option is 60 days, though
it will not require that long to COM