[Code of Federal Regulations]
[Title 26, Volume 18]
[Revised as of April 1, 2004]
From the U.S. Government Printing Office via GPO Access
[CITE: 26CFR403.57]

[Page 780]
 
                       TITLE 26--INTERNAL REVENUE
 
    CHAPTER I--INTERNAL REVENUE SERVICE, DEPARTMENT OF THE TREASURY 
                               (CONTINUED)
 
PART 403_DISPOSITION OF SEIZED PERSONAL PROPERTY--Table of Contents
 
           Subpart F_Administrative Sale of Personal Property
 
Sec. 403.57  Conditions of sale.

    (a) No recourse. All personal property to be sold shall be offered 
for sale ``as is'' and without recourse against the United States.
    (b) No guarantee. No guarantee or warranty, expressed or implied, 
shall be given or understood in respect of any forfeited property 
offered for sale.
    (c) No sale. (1) The United States reserves the right to reject any 
bids.
    (2) In a case in which all bids are rejected the Commissioner or his 
delegate shall re-advertise the property for sale in the manner 
prescribed in Sec. 403.55.
    (d) One bid. When only one bid is received for a single unit of 
property such bid shall be the highest bid received for such property.

(Sec. 7325, 68A Stat. 870, as amended (26 U.S.C. 7325 (1), (4)); sec. 
7326, 72 Stat. 1429, as amended (26 U.S.C. 7326(a)))

[T.D. 7433, 41 FR 39312, Sept. 15, 1976, as amended by T.D. 7525, 42 FR 
64344, Dec. 23, 1977]