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Code of Federal Regulations (Last Updated: July 5, 2024) |
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Title 48 - Federal Acquisition Regulations System |
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Chapter 2 - Defense Acquisition Regulations System, Department of Defense |
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SubChapter G - Contract Management |
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Part 245 - Government Property |
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Subpart 245.73 - Sale of Surplus Contractor Inventory |
§ 245.7309-5 - Title.
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(a) Unless otherwise specified in the Invitation, title to property sold under this Invitation shall vest in the Purchaser when full payment is made. If the Invitation provides for loading by the Contractor, title shall not vest until payment and loading are completed.
(b) A Standard Form 97, Certificate of Release of a Motor Vehicle, (or a State certificate of title) shall be furnished for motor vehicles and motor-propelled or motor-drawn equipment requiring licensing.