(A) (1) (a) A transfer or assignment of any lot, or of an interest therein, may only be made to the city, by the surrender of the certificate of burial rights, with the assignment, duly executed, attached thereto or endorsed thereon.
(b) The transferee or assignee, in such case, shall be entitled to be reimbursed only for the amount paid for such lot or interest therein, as shown on the certificate of burial rights.
(c) In the event of a transfer or assignment of a portion of any such lot not used for burial purposes, such amount shall be the proportion of such payment as the unused portion of the lot bears to the entire lot.
(d) Such transfer or assignment shall thereafter be recorded on the books of the cemetery, and if only a portion of a lot is so transferred or assigned, a new certificate shall be issued to the owner of the lot for the portion of the lot retained.
(2) If any indebtedness remains on any such lot due the city from the owner at the time of such transfer or assignment, such indebtedness shall first be deducted from the amount of the payment to the owner for the transfer or assignment.
(B) Upon such transfer or assignment, such lot or interest therein shall become the sole property of the city and subject to resale by it to others at such price therefor as may be deemed equitable, consistent with current schedules of rates and charges therefor.
(C) Prices may be revised at any time by Council as conditions require.
(Prior Code, § 1062.20)