Excess property

Hey there, kiddo! Today, we're going to talk about "excess property." So, imagine you have a lot of toys, but you can't fit them in your toy box anymore. You don't need all of them right now, but you don't want to just throw them away. What do you do with the extra toys?

Well, the same thing happens with something called "excess property." This usually refers to things that the government or a company owns, but doesn't need or use anymore. Maybe they have too many buildings, or too many computers, or too many cars. They could just throw them away, but that would be a waste of valuable resources.

So instead, they try to sell the excess property to other people or companies who might need it. That way, they can get some money back and the property can be put to good use by someone else. It's like a big toy swap!

Sometimes, the excess property is in really good condition, but other times it might be broken or not working well. In those cases, the government or company might try to fix it up before selling it, or they might just sell it for a really cheap price.

So, that's excess property in a nutshell! It's just like having too many toys, but instead of throwing them away, we try to sell them to someone who could use them. Makes sense, right?