Time Limitation on Settlement Dates in Real Estate Transactions

A decision was requested regarding an employee's entitlement to an extension of the 1-year time limitation on real estate transactions because the employee was unable to sell or enter into a contract for sale of his residence at his old official station during the initial year due to an illness in the family. Where the request for the extension was made in writing, the employee was entitled to the extension of 1 year, not to exceed 2 years from the effective date of his transfer, to settle the sale of his residence.