Treasury Regulations · 26 CFR

§ 403.5. Meaning of terms.

In effect eCFR current as of October 15, 2026

Regulation text, no changes From the eCFR, current as of October 15, 2026. The eCFR is an authoritative but unofficial editorial compilation of the Code of Federal Regulations; the official text is the annual CFR on govinfo. Compare it with this section on ecfr.gov (external site) or the official annual CFR on govinfo (external site).

Cite as 26 CFR § 403.5

At a glance

Read from the text and its source citation. Not part of the regulation.

Status: In the current eCFR
Source: T.D. 7433, 41 FR 39312, Sept. 15, 1976, unless otherwise noted.
Length: 195 words · about 1 min to read

As used in this part, and unless the context otherwise requires, the following terms shall have the meanings set forth in this section. In this part words in the plural form shall include the singular, and vice versa, and words importing the masculine gender shall include the feminine. The terms “includes” and “including” do not exclude things not enumerated which are in the same general class.

¶(a) Appraised value. The value placed upon seized property by the appraisers pursuant to § 403.26(a)(2) for the purpose of determining whether the property may be forfeited administratively.

¶(b) Equity. For purposes of subpart D of this part, the petitioner's interest in the subject personal property at the time of final administrative action on the petition, but not including:

¶(1) Any unearned finance charges accruing from the later of the date of seizure or the date of default;

¶(2) any amount rebatable on account of paid insurance premiums;

¶(3) attorney's fees for collection;

¶(4) any amount identified as dealer's reserve; or

¶(5) any amount in the nature of liquidated damages that may have been agreed upon by the buyer and the petitioner.

Where it sits in 26 CFR

Subchapter F Procedure and administration
Part 403 Disposition of seized personal property
Subpart B Definitions