OSU PaCS 502: Real Property

Purpose

To provide information on real property administration for Oregon State University.

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Applicability

Any departments involved in acquiring or divesting any interest in real property.

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Definition

Real Property

All land, structures, firmly attached and integrated equipment (such as light fixtures or a well pump), anything growing on the land, and all "interests" in the property, which may include the right to future ownership (remainder), right to occupy for a period of time (tenancy or life estate), the right to drill for oil, the right to get the property back (a reversion) if it is no longer used for its current purpose (such as use for a hospital, school or city hall), use of airspace (condominium) or an easement across another's property.

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Policy

The Board of Higher Education has the authority to acquire, receive, hold, control, convey, sell, manage, operate, lease, lend, invest, improve and develop any and all real property.  Only limited delegation has been granted to the University.

All matters related to the administration of real property issues will be coordinated with PaCC and when appropriate, Facilities Services.  All contracts related to the administration of real property must be signed by either a University Contracts Officer or the President and Secretary of the Board of Higher Education.

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Additional Information

See the Oregon State Board of Higher Education Internal Management Directive 6.150 Assignment of Responsibility--Personal Property.

See Oregon Administrative Rules, Division 50 Real Property, Facilities, and campus Planning.

See Chapter 351- Higher Education Generally for information related to Oregon Revised Statutes.

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