Excess Personal Property Law and Legal Definition

According to 41 CFR 102-36.40 [Title 41 Public Contracts and Property Management; Subtitle C Federal Property Management Regulations System; Chapter 102 Federal Management Regulation System; Subchapter B Personal Property; Part 102-36 Disposition of Excess Personal Property; Subpart A General Provisions], excess personal property means any personal property under the control of any Federal agency that is no longer required for that agency's needs, as determined by the agency head or designee.