--- kind: "section" citation: "22 U.S.C. § 1631a" title: "22" title_heading: "Foreign Relations and Intercourse" number: "1631a" heading: "Property owned by Bulgaria, Hungary, and Rumania or any national thereof" release: "119-102" date: "2026-07-12" url: "https://uscodex.org/usc/22/1631a" units: - "Chapter 21 — Settlement of International Claims" - "Subchapter II — Vesting and Liquidation of Bulgarian, Hungarian, and Rumanian Property" --- # §1631a. Property owned by Bulgaria, Hungary, and Rumania or any national thereof - (a) **Vesting of property; liquidation; disposition of net proceeds—** In accordance with article 25 of the treaty of peace with Bulgaria, article 29 of the treaty of peace with Hungary, and article 27 of the treaty of peace with Rumania, any [property](/usc/22/1631.md?p=2) which was blocked in accordance with Executive Order 8389 of April 10, 1940, as amended, and remains blocked on August 9, 1955, and which, as of September 15, 1947, was owned directly or indirectly by Bulgaria, Hungary, and Rumania or by any national thereof as defined in such Executive order, shall vest in such officer or agency as the President may from time to time designate and shall vest when, as, and upon such terms as the President or his designee shall direct. Such [property](/usc/22/1631.md?p=2) shall be sold or otherwise liquidated as expeditiously as possible after vesting under such rules and regulations as the President or his designee may prescribe. The net proceeds remaining upon completion of the administration and liquidation thereof, including the adjudication of any suits or claims with respect thereto under sections [1631f](/usc/22/1631f.md) and [1631g](/usc/22/1631g.md) of this title, shall be covered into the Treasury. Notwithstanding the preceding provisions of this subsection, any such [property](/usc/22/1631.md?p=2) determined by the President or his designee to be owned directly by a natural [person](/usc/22/1621.md?p=a) shall not be vested under this subsection but shall remain blocked subject to release when, as, and upon such terms as the President or his designee may prescribe. If, at any time within one year from the date of the vesting of any [property](/usc/22/1631.md?p=2) under this subsection, the President or his designee shall determine that it was directly owned at the date of vesting by a natural [person](/usc/22/1621.md?p=a), then the President or his designee shall divest such [property](/usc/22/1631.md?p=2) and restore it to its blocked status prior to vesting, subject to release when, as, and upon such terms as the President or his designee may prescribe, or if such [property](/usc/22/1631.md?p=2) has been liquidated, shall divest the net proceeds thereof and carry them in blocked accounts with the Treasury, bearing no interest, in the name of the owner thereof at the date of vesting, subject to release when, as, and upon such terms as the President or his designee may prescribe. - (b) **Net proceeds of property vested in Alien Property Custodian or Attorney General—** The net proceeds of any [property](/usc/22/1631.md?p=2) which was vested in the Alien [Property](/usc/22/1631.md?p=2) Custodian or the Attorney General after December 17, 1941, pursuant to the Trading With the Enemy Act, as amended [[50 U.S.C. 4301](/usc/50/4301.md) et seq.], and which at the date of vesting was owned directly or indirectly by Bulgaria, Hungary, or Rumania, or any national thereof, shall after completion of the administration, liquidation, and disposition of such [property](/usc/22/1631.md?p=2) pursuant to such Act, including the adjudication of any suits or claims with respect thereto under such Act, be covered into the Treasury, except that the net proceeds of any such [property](/usc/22/1631.md?p=2) which the President or his designee shall determine was directly owned by a natural [person](/usc/22/1621.md?p=a) at the date of vesting shall be divested by the President or such officer or agency as he may designate and carried in blocked accounts with the Treasury, bearing no interest, in the name of the owner thereof at the date of vesting, subject to release when, as, and upon such terms as the President or his designee may prescribe. - (c) **Determination of ownership by natural person of vested property—** The determination under this section that any vested [property](/usc/22/1631.md?p=2) was not directly owned by a natural [person](/usc/22/1621.md?p=a) at the date of vesting shall be within the sole discretion of the President or his designee and shall not be subject to review by any court. - (d) **Furnishing of information; production of books and records—** The President or his designee may require any [person](/usc/22/1621.md?p=a) to furnish, in the form of reports or otherwise, complete information, including information with regard to past transactions, relative to any [property](/usc/22/1631.md?p=2) blocked under Executive Order 8389 of April 10, 1940, as amended, or as may be otherwise necessary to enforce the provisions of this section; and the President or his designee may require of any [person](/usc/22/1621.md?p=a) the production of any books of account, records, contracts, letters, memoranda, or other papers relative to such [property](/usc/22/1631.md?p=2) or as may be otherwise necessary to enforce the provisions of this section. ## Source credit (Mar. 10, 1950, ch. 54, title II, § 202, as added Aug. 9, 1955, ch. 645, § 3, 69 Stat. 562.) ## Notes ### Editorial Notes ### References in Text Executive Order 8389 of April 10, 1940, referred to in subsecs. (a) and (d), is Ex. Ord. 8389, Apr. 10, 1940, 5 F.R. 1400, which is set out under section 4305 of Title 50, War and National Defense. The Trading With the Enemy Act, as amended, and such Act, referred to in subsec. (b), is act Oct. 6, 1917, ch. 106, 40 Stat. 411, which is classified generally to chapter 53 (§ 4301 et seq.) of Title 50, War and National Defense. For complete classification of this Act to the Code, see Tables. ### Executive Documents ### Executive Order No. 10644 Ex. Ord. No. 10644, Nov. 8, 1955, 20 F.R. 8363, as amended by Ex. Ord. No. 11281, May 13, 1966, 31 F.R. 7215, which designated the Attorney General to perform functions of the President under this subchapter and the Secretary of the Treasury to perform functions under this section with respect to the release of blocked property and accounts, was revoked by Ex. Ord. No. 12553, Feb. 25, 1986, 51 F.R. 7237.