§ 528.403 — Termination And Acquisition Of An Interest In Blocked Property

(a) Whenever a transaction licensed or authorized by or pursuant to this part results in the transfer of property (including any property interest) away from a person whose property and interests in property are blocked pursuant to § 528.201, such property shall no longer be deemed to be property blocked pursuant to § 528.201, unless there exists in the property another interest that is blocked pursuant to § 528.201, the transfer of which has not been effected pursuant to license or other authorization.

(b) Unless otherwise specifically provided in a license or authorization issued pursuant to this part, if property (including any property interest) is transferred or attempted to be transferred to a person whose property and interests in property are blocked pursuant to § 528.201, such property shall be deemed to be property in which such person has an interest and therefore blocked.