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Code of Federal Regulations Title 26. Internal Revenue § 26.403.57 Conditions of sale

Current as of January 02, 2025 | Updated by Findlaw Staff

(a) No recourse.All personal property to be sold shall be offered for sale “as is” and without recourse against the United States.

(b) No guarantee.No guarantee or warranty, expressed or implied, shall be given or understood in respect of any forfeited property offered for sale.

(c) No sale.(1) The United States reserves the right to reject any bids.

(2) In a case in which all bids are rejected the Commissioner or his delegate shall re-advertise the property for sale in the manner prescribed in § 403.55.

(d) One bid.When only one bid is received for a single unit of property such bid shall be the highest bid received for such property.

(Authority:  Sec. 7325, 68A Stat. 870, as amended (26 U.S.C. 7325 (1), (4));  sec. 7326, 72 Stat. 1429, as amended (26 U.S.C. 7326(a)))

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Cite this article: FindLaw.com - Code of Federal Regulations Title 26. Internal Revenue § 26.403.57 Conditions of sale - last updated January 02, 2025 | https://codes.findlaw.com/cfr/title-26-internal-revenue/cfr-sect-26-403-57/

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