Title 40 of the U.S. Code § 552 - Abandoned or unclaimed property on Government premises

Full text of § 552 from Title 40 of the United States Code.

§ 552. Abandoned or unclaimed property on Government premises

(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

(2) if the property has been used or transferred, equal to the fair value of the property as of the time title vested in the Government less costs incident to care and handling as determined by the Administrator.

(Pub. L. 107–217, Aug. 21, 2002, 116 Stat. 1099; Pub. L. 109–284, §6(3), Sept. 27, 2006, 120 Stat. 1212.)

Historical and Revision Notes
Revised Section	Source (U.S. Code)	Source (Statutes at Large)
552	40:484(m).	June 30, 1949, ch. 288, title II, §203(m), formerly §203(l), 63 Stat. 388; redesignated §203(m), Aug. 1, 1955, ch. 442, 69 Stat. 430.

Editorial Notes

Amendments

2006—Subsec. (a). Pub. L. 109–284 substituted "(a) Authority To Take Property.—The Administrator" for "(a) Authority To Take Property Administrator".

About This Section

40 U.S.C. § 552 is part of Title 40 of the United States Code. The United States Code is the official codification of federal statutes maintained by the Office of the Law Revision Counsel of the U.S. House of Representatives. Congress amends the Code through new public laws, which are eventually incorporated into the relevant title.

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