§ 8864. Delivery of property on stipulation

• (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.