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UNIVERSITY OF HOUSTON SYSTEM ADMINISTRATIVE MEMORANDUM
 

Summary: UNIVERSITY OF HOUSTON SYSTEM
ADMINISTRATIVE MEMORANDUM
SECTION: Fiscal Affairs NUMBER: 03.F.05
AREA: Asset Management
SUBJECT: Conveyance of Real Property
October 26, 1993; Revised November 30, 2009 Page 1 of 2
1. PURPOSE
This administrative memorandum establishes procedures for the conveyance of real
property or any interest in real property.
2. POLICY
2.1. Real property or any interest in real property shall be sold when it is determined
to be in excess of the needs of the University of Houston System or when it is
determined to have no value for the purpose for which it was originally intended,
or for other purposes deemed to be consistent with System mission and business
affairs.
2.2. The System recognizes the fiduciary responsibility to conduct a market analysis
and to sell real property at fair market value. Property may be sold for less than
fair market value at the discretion of the Board of Regents.
2.3. Board Policy 55.01.1 states that Board approval in an open meeting is required
for any contract for the purchase, sale, or conveyance of real property, which

  

Source: Azevedo, Ricardo - Department of Biology and Biochemistry, University of Houston

 

Collections: Biology and Medicine; Environmental Sciences and Ecology