26 USC 6335 - Sale of seized property

U.S Code last checked for updates: Jan 19, 2025

§ 6335.

Sale of seized property

(a)

Notice of seizure

(b)

Notice of sale

(c)

Sale of indivisible property

(d)

Time and place of sale

(e)

Manner and conditions of sale

(1)

In general

(A)

Determinations relating to minimum price

Before the sale of property seized by levy, the Secretary shall determine—

(i)

a minimum price below which such property shall not be sold (taking into account the expense of making the levy and conducting the sale), and

(ii)

whether, on the basis of criteria prescribed by the Secretary, the purchase of such property by the United States at such minimum price would be in the best interest of the United States.

(B)

Sale to highest bidder at or above minimum price

(C)

Property deemed sold to United States at minimum price in certain cases

(D)

Release to owner in other cases

(2)

Additional rules applicable to sale

(A)

That the sale shall not be conducted in any manner other than—

(i)

by public auction, or

(ii)

by public sale under sealed bids.

(B)

In the case of the seizure of several items of property, whether such items shall be offered separately, in groups, or in the aggregate; and whether such property shall be offered both separately (or in groups) and in the aggregate, and sold under whichever method produces the highest aggregate amount.

(C)

Whether the announcement of the minimum price determined by the Secretary may be delayed until the receipt of the highest bid.

(D)

Whether payment in full shall be required at the time of acceptance of a bid, or whether a part of such payment may be deferred for such period (not to exceed 1 month) as may be determined by the Secretary to be appropriate.

(E)

The extent to which methods (including advertising) in addition to those prescribed in subsection (b) may be used in giving notice of the sale.

(F)

Under what circumstances the Secretary may adjourn the sale from time to time (but such adjournments shall not be for a period to exceed in all 1 month).

(3)

Payment of amount bid

(4)

Cross reference

(f)

Right to request sale of seized property within 60 days

(g)

Stay of sale of seized property pending Tax Court decision

(Aug. 16, 1954, ch. 736, 68A Stat. 785; Pub. L. 89–719, title I, § 104(d), Nov. 2, 1966, 80 Stat. 1137; Pub. L. 94–455, title XIX, § 1906(b)(13)(A), Oct. 4, 1976, 90 Stat. 1834; Pub. L. 99–514, title XV, § 1570(a), Oct. 22, 1986, 100 Stat. 2764; Pub. L. 100–647, title VI, § 6236(g), Nov. 10, 1988, 102 Stat. 3740; Pub. L. 105–206, title III, § 3441(a), (b), July 22, 1998, 112 Stat. 761.)

cite as: 26 USC 6335