In addition to not eating chametz, or benefiting from chametz on Passover, Jews are also not permitted to OWN any chametz during Passover.
Mechiras Chametz, Chametz Sale, is a binding and legal sale of chametz that can be performed before the holiday to a non-Jew. We promise to buy it back after the holiday. While this seems like a loophole, it's a real and binding sale, and ensures we celebrate Passover properly! (The sale is a complex legal procedure that you should not try at home.)
Contrary to a widespread misconception, Rabbis do not buy the chametz. The individual participating in the sale appoints his Rabbi as an agent to sell his chametz to a non-Jew on Erev Pesach.
Chametz that is owned by a Jewish business must also be sold for the duration of Passover.
Place all the chametz in a secure location on your property, and coverthe area so it is not visible. If storing on shelves, use paper or other material to cover the shelves containing Chametz.
If you are including perishable chametz in your sale, indicate it's location on the chametz sale form, and ensure it's and in a cannot be accidentally accessed during Passover.