Surplus 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], surplus personal property (surplus) means excess personal property no longer required by the Federal agencies as determined by GSA (General Services Administration.)
