Sales free of interests

  1. Law
  2. USC 11
  3. Bankruptcy
  4. ADJUSTMENT OF DEBTS OF A FAMILY FARMER OR FISHERMAN WITH REGULAR ANNUAL INCOME
  5. OFFICERS, ADMINISTRATION, AND THE ESTATE
  6. Sales free of interests

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§1206. Sales free of interests

After notice and a hearing, in addition to the authorization contained in section 363(f), the trustee in a case under this chapter may sell property under section 363(b) and (c) free and clear of any interest in such property of an entity other than the estate if the property is farmland, farm equipment, or property used to carry out a commercial fishing operation (including a commercial fishing vessel), except that the proceeds of such sale shall be subject to such interest.

(Added and amended Pub. L. 99–554, title II, §255, title III, §302(f), Oct. 27, 1986, 100 Stat. 3108 , 3124; Pub. L. 103–65, §1, Aug. 6, 1993, 107 Stat. 311 ; Pub. L. 105–277, div. C, title I, §149(a), Oct. 21, 1998, 112 Stat. 2681–610 ; Pub. L. 106–5, §1(1), (2), Mar. 30, 1999, 113 Stat. 9 ; Pub. L. 106–70, §1, Oct. 9, 1999, 113 Stat. 1031 ; Pub. L. 107–8, §1, May 11, 2001, 115 Stat. 10 ; Pub. L. 107–17, §1, June 26, 2001, 115 Stat. 151 ; Pub. L. 107–170, §1, May 7, 2002, 116 Stat. 133 ; Pub. L. 107–171, title X, §10814(a), May 13, 2002, 116 Stat. 532 ; Pub. L. 107–377, §2(a), Dec. 19, 2002, 116 Stat. 3115 ; Pub. L. 108–73, §2(a), Aug. 15, 2003, 117 Stat. 891 ; Pub. L. 108–369, §2(a), Oct. 25, 2004, 118 Stat. 1749 ; Pub. L. 109–8, title X, §§1001(a)(1), (c), 1007(c)(3), Apr. 20, 2005, 119 Stat. 185 , 186, 188.)


Editorial Notes

Codification

For repeal of section effective Oct. 1, 1998, and subsequent reenactment of section, see note set out preceding section 1201 of this title.

Amendments

2005-Pub. L. 109–8, §1007(c)(3), substituted "if the property is farmland, farm equipment, or property used to carry out a commercial fishing operation (including a commercial fishing vessel)" for "if the property is farmland or farm equipment".


Statutory Notes and Related Subsidiaries

Effective Date of 2005 Amendment

Amendment by section 1007(c)(3) of Pub. L. 109–8 effective 180 days after Apr. 20, 2005, and not applicable with respect to cases commenced under this title before such effective date, except as otherwise provided, see section 1501 of Pub. L. 109–8, set out as a note under section 101 of this title.

Effective Dates

Permanent reenactment of section effective July 1, 2005, see section 1001(a)(2) of Pub. L. 109–8, set out as a Repeal, Reenactment, and Termination of Chapter note under section 1201 of this title. For effective dates of section and amendments extending periods for which section was reenacted prior to permanent reenactment, see Effective Date and Effective Date of 1999, 2001, 2002, 2003, and 2004 Amendment notes set out under section 1201 of this title.


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