# 26 U.S.C. § 7505: Sale of personal property acquired by the United States

Source: OLRC release point 119-134 <https://uscode.house.gov/us/usc/119-134/t26/s7505>. Cite pinpoints as 26 U.S.C. § 7505(a)(1).

## § 7505(a) Sale

Any personal property acquired by the United States in payment of or as security for debts arising under the internal revenue laws may be sold by the Secretary in accordance with such regulations as may be prescribed by the Secretary.

## § 7505(b) Accounting

In case of the resale of such property, the proceeds of the sale shall be paid into the Treasury as internal revenue collections, and there shall be rendered a distinct account of all charges incurred in such sales.

## Regulations

- [Treas. Reg. § 301.7505-1](/26/reg/301.7505-1.md): Sale of personal property acquired by the United States. (interprets § 7505)

Derived from: 1939 § 3695(b); 1939 § 3695(c)

## Amendments

- 1954-08-16: [Act Aug. 16, 1954, ch. 736](/26/act/1954-ch736.md), 68A Stat. 896
- 1966-11-02: [Pub. L. 89-719](/26/act/89-719.md), 80 Stat. 1145
- 1976-10-04: [Pub. L. 94-455](/26/act/94-455.md), 90 Stat. 1834