Statutes, codes, and regulations
Code of Federal Regulations
Title 41 - PUBLIC CONTRACTS AND PROPERTY MANAGEMENTSubtitle C - FEDERAL PROPERTY MANAGEMENT REGULATIONS SYSTEMChapter 102 - FEDERAL MANAGEMENT REGULATIONSubchapter C - REAL PROPERTYPart 102-75 - REAL PROPERTY DISPOSALSubpart C - SURPLUS REAL PROPERTY DISPOSAL
NEGOTIATED SALES
Section 102-75.890 - What clause must be in the offer to purchase and conveyance documents for negotiated sales to public agencies?

41 C.F.R. § 102-75.890

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Current through October 31, 2024
Section 102-75.890 - What clause must be in the offer to purchase and conveyance documents for negotiated sales to public agencies?

Disposal agencies must include in the offer to purchase and conveyance documents an excess profits clause, which usually runs for 3 years, to eliminate the potential for windfall profits to public agencies. This clause states that, if the purchaser should sell or enter into agreements to sell the property within 3 years from the date of title transfer by the Federal Government, all proceeds in excess of the purchaser's costs will be remitted to the Federal Government.

41 C.F.R. § 102-75.890