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Title 40 — Public Buildings, Property, and WorksRelease 119-73

§704 Other methods of disposal

Title 40 › Subtitle SUBTITLE I— - FEDERAL PROPERTY AND ADMINISTRATIVE SERVICES › Chapter CHAPTER 7— - FOREIGN EXCESS PROPERTY › § 704

Last updated Apr 6, 2026|Official source

Summary

If foreign excess property is not handled under sections 702 or 703, an agency head can sell, trade, lease, or transfer it for cash, credit, or other things. They set the terms. They can swap it for foreign money or credits, or for big benefits or to settle claims. If the item has no market value or would cost more to keep than it would sell for, the agency head can abandon, destroy, or donate it. They may dispose of property without advertising if that is the most practical option, and they can sign papers and take other steps needed to transfer ownership or other legal interests.

Full Legal Text

Title 40, §704

Public Buildings, Property, and Works — Source: USLM XML via OLRC

(a)Foreign excess property not disposed of under section 702 or 703 of this title may be disposed of as provided in this section.
(b)(1)The head of an executive agency may dispose of foreign excess property by sale, exchange, lease, or transfer, for cash, credit or other property, with or without warranty, under terms and conditions the head of the executive agency considers proper.
(2)If the head of an executive agency determines that it is in the interest of the United States, foreign excess property may be exchanged for—
(A)foreign currencies or credits; or
(B)substantial benefits or the discharge of claims resulting from the compromise or settlement of claims in accordance with law.
(3)The head of an executive agency may authorize the abandonment, destruction, or donation of foreign excess property if the property has no commercial value or if estimated costs of care and handling exceed the estimated proceeds from sale.
(c)The head of an executive agency may dispose of foreign excess property without advertising if the head of the executive agency finds that disposal without advertising is the most practicable and advantageous means for the Federal Government to dispose of the property.
(d)The head of an executive agency may execute documents to transfer title or other interests in, and take other action necessary or proper to dispose of, foreign excess property.

Legislative History

Notes & Related Subsidiaries

Historical and Revision Notes

Revised SectionSource (U.S. Code)Source (Statutes at Large) 70440:512(a).June 30, 1949, ch. 288, title IV, § 402(a), 63 Stat. 398; Pub. L. 91–426, § 2(a)–(c), Sept. 26, 1970, 84 Stat. 883; Pub. L. 99–627, § 3(a), Nov. 7, 1986, 100 Stat. 3509.

Reference

Citations & Metadata

Citation

40 U.S.C. § 704

Title 40 — Public Buildings, Property, and Works

Last Updated

Apr 6, 2026

Release point: 119-73