Property Acquisition and Disposal

Policy Purpose

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The purpose of this policy is to establish procedures for the acquisition and disposal of property per State Building Commission guidelines.

• Policy Statement

   

  The institution has the authority to purchase and condemn land, and to receive donations of property (Solicitation and Acceptance of Gifts ETSU FP-24), and to be vested with title to property so acquired. Any proposed acquisition of property by any manner shall be subject to the approval of the President and the State Building Commission (SBC).

• Authority

  T.C.A. § 49-8-203; T.C.A. § 49-8-111

• Definitions

  N/a

   

• Policy History

   Effective Date:  

• Procedures

  1. The Chief Operating Officer submits a campus master plan or an amended master plan, which indicates land acquisition needs, or an individual acquisition request as well as any possible disposals to the President for consideration and approval.
  2. Upon approval of the campus master plan or amendment or an individual acquisition or disposal request, the institution may request a land acquisition or disposal by submitting the proper documentation for each proposed acquisition or disposal to the Office of the State Architect. This documentation includes:
     1. The justification of the need for the property or for the disposal of the property;
     2. A description of and the location of the property;
     3. The estimated amount of funds required for the acquisition and the source of funds;
     4. A plat of the property with the name (s) of the present owner (s);
     5. The deed to the property.
     6. Acquisition Request Form GS-1136
     7. Disposal Request Form GS-1135

   

  3. The property acquisition request is submitted by the System Office to the Department of Finance and Administration (F&A) for submission to the State Building Commission (SBC) Executive Sub-Committee (ESC) for approval. After SBC ESC approval, F&A staff will obtain a title commitment, an appraisal, and a survey and prepare an option to purchase the property.
  4. If an option to purchase the property is signed by the seller, it is submitted to the President for final approval of the proposed acquisition. If negotiations fail, the institution may request that condemnation proceedings be commenced for acquisition of the property.

  If acquisition of the property by purchase is approved, F&A records the warranty deed and forwards the deed and title insurance to the System Office.

• Procedure History

   Effective Date:  

• Related Form(s)

  Form GS-1136 - Property Acquisition

  Form GS-1135 - Property Disposal

• Scope and Applicability

  First Column	Second Column
  Primary	Secondary
  Facilities and Operations