7 CFR § 767.1 - Introduction.

---
identifier: "/us/cfr/t7/s767.1"
source: "ecfr"
legal_status: "authoritative_unofficial"
title: "7 CFR § 767.1 - Introduction."
title_number: 7
title_name: "Agriculture"
section_number: "767.1"
section_name: "Introduction."
chapter_name: "FARM SERVICE AGENCY, DEPARTMENT OF AGRICULTURE"
subchapter_number: "D"
subchapter_name: "SPECIAL PROGRAMS"
part_number: "767"
part_name: "INVENTORY PROPERTY MANAGEMENT"
positive_law: false
currency: "2026-04-05"
last_updated: "2026-04-05"
format_version: "1.1.0"
generator: "[email protected]"
authority: "5 U.S.C. 301 and 7 U.S.C. 1989."
regulatory_source: "72 FR 63358, Nov. 8, 2007, unless otherwise noted."
cfr_part: "767"
---


# 767.1 Introduction.

(a) *Purpose.* This part describes the Agency's policies for:

(1) Managing inventory property;

(2) Selling inventory property;

(3) Leasing inventory property;

(4) Managing real and chattel property the Agency takes into custody after abandonment by the borrower;

(5) Selling or leasing inventory property with important resources, or located in special hazard areas; and

(6) Conveying interest in real property for conservation purposes.

(b) *Basic policy.* The Agency maintains, manages and sells inventory property as necessary to protect the Agency's financial interest.