Delivery of property on stipulation

10 U.S.C. § 8864
in effect
Sign in to generate a plain English summaryAsk Belisarius Agent
(a) Prize property may be delivered to a claimant on stipulation, deposit, or other security, if—(1) the claimant satisfies the court that the property has a peculiar and intrinsic value to him, independent of its market value; (2) the court is satisfied that the rights and interests of the United States or of other claimants will not be prejudiced; (3) an opportunity is given to the United States attorney and the naval prize commissioner or the naval special prize commissioner to be heard as to the appointment of appraisers; and (4) a satisfactory appraisal is made. (b) Money collected on a stipulation, or deposited instead of it, that does not represent costs shall be deposited with the Treasurer of the United States or a public depositary in the same manner as proceeds of a sale.

Starting a business? Corpus forms LLCs in all 50 states and DC.