A bill to permit the release of certain veterans from liability to the United States arising out of loans made, guaranteed, or insured under chapter 37 of title 38, United States Code.

Permits the release of veterans from liability to the United States arising out of loans on residential property made, guaranteed, or insured by the Veterans Administration if the veteran conveys the property to a transferee who assumes full liability but defaults on such loan. (Adds 38 U.S.C. 1817(b))