Internal Revenue Code · 26 U.S.C.
§ 7506. Administration of real estate acquired by the United States
Official text, no changes From the Office of the Law Revision Counsel, release point 119-121 (current through Public Law 119-121 (October 9, 2026)). Compare it with the official text at uscode.house.gov (external site).
Cite as 26 U.S.C. § 7506
At a glance
Read from the text, the source credit and the official notes. Not part of the law.
- Status
- In force
- Enacted
- November 2, 1966 by Pub. L. 89–719
- Last amended
- October 4, 1976 by Pub. L. 94–455
- Amendments
- 1 dated changes in the source credit
- Length
- 4 subsections · 321 words · about 1 min to read
- Cross-references
- cites 0; cited by 2 Code sections and 0 other regulations
- Regulations
- 1 issued under this section
The Secretary shall have charge of all real estate which is or shall become the property of the United States by judgment of forfeiture under the internal revenue laws, or which has been or shall be assigned, set off, or conveyed by purchase or otherwise to the United States in payment of debts or penalties arising under the laws relating to internal revenue, or which has been or shall be vested in the United States by mortgage or other security for the payment of such debts, or which has been redeemed by the United States, and of all trusts created for the use of the United States in payment of such debts due them.
The Secretary, may, at public sale, and upon not less than 20 days’ notice, sell and dispose of any real estate owned or held by the United States as aforesaid.
Until such sale, the Secretary may lease such real estate owned as aforesaid on such terms and for such period as the Secretary shall deem proper.
In cases where real estate has or may become the property of the United States by conveyance or otherwise, in payment of or as security for a debt arising under the laws relating to internal revenue, and such debt shall have been paid, together with the interest thereon, at the rate of 1 percent per month, to the United States, within 2 years from the date of the acquisition of such real estate, it shall be lawful for the Secretary to release by deed or otherwise convey such real estate to the debtor from whom it was taken, or to his heirs or other legal representatives.
(Aug. 16, 1954, ch. 736, 68A Stat. 896; Pub. L. 89–719, title I, § 111(b), Nov. 2, 1966, 80 Stat. 1145; Pub. L. 94–455, title XIX, § 1906(b)(13)(A), Oct. 4, 1976, 90 Stat. 1834.)
Regulations under this section
Treasury regulations (26 CFR) issued under § 7506
Cross-references
Computed from the citations in the text of Title 26 and 26 CFR.
Cited by 2 Code sections
Amendment history
From the source credit and the official notes, newest first.
Where it sits in the Code
Nearby sections
- § 7502 Timely mailing treated as timely filing and paying
- § 7503 Time for performance of acts where last day falls on Saturday, Sunday, or legal holiday
- § 7504 Fractional parts of a dollar
- § 7505 Sale of personal property acquired by the United States
- § 7506 Administration of real estate acquired by the United States
- § 7507 Exemption of insolvent banks from tax
- § 7508 Time for performing certain acts postponed by reason of service in combat zone or contingency operation
- § 7508A Authority to postpone certain deadlines by reason of Federally declared disaster, significant fire, or terroristic or military actions
- § 7509 Expenditures incurred by the United States Postal Service
Official notes
Show the Law Revision Counsel's notes (amendments, effective dates)
Editorial Notes
Amendments
1976—Subsecs. (a) to (d). Pub. L. 94–455 struck out “or his delegate” after “Secretary” wherever appearing.
1966—Subsec. (a). Pub. L. 89–719 inserted reference to real estate which has been redeemed by the United States.
Statutory Notes and Related Subsidiaries
Effective Date of 1966 Amendment
Amendment by Pub. L. 89–719 applicable after Nov. 2, 1966, regardless of when title or lien of United States arose or when lien or interest of another person was acquired, with certain exceptions, see section 114(a)–(c) of Pub. L. 89–719, set out as a note under section 6323 of this title.