40 U.S.C. § 552 - Abandoned or unclaimed property on Government premises

Cite as:40 U.S.C. § 552
Currency:Current through P.L. 115-46
 
FREE EXCERPT

(a) AUTHORITY TO TAKE PROPERTY.-The Administrator of General Services may take possession of abandoned or unclaimed property on premises owned or leased by the Federal Government and determine when title to the property vests in the Government. The Administrator may use, transfer, or otherwise dispose of the property.

(b) CLAIM FILED BY FORMER OWNER.-If a former owner files a proper claim within three years from the date that title to the property vests in the Government, the former owner shall be paid an amount-

(1) equal to the proceeds realized from the disposition of the property less costs incident to care and handling as determined by the Administrator; or

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