University of Alabama at Birmingham

REAL ESTATE ACQUISITION POLICY

October 1, 1990

Introduction

Whenever UAB acquires real estate by purchase, donation, transfer of title, etc., certain reviews and approvals are necessary before the decision can be made to acquire or accept the property and before the purchase transaction is considered to be complete. This policy briefly outlines the responsibilities involved in that review. The procedures required to accomplish such an acquisition are separately delineated in the document entitled "Real Estate Acquisition Procedures."

Policy Statement

It is the policy of the University of Alabama at Birmingham that any proposed real estate acquisition must be reviewed and recommended by the UAB Real Estate Acquisition Committee. Based on that committee’s recommendation to the President, the President may authorize the University Treasurer to finalize contract negotiations. After negotiations are completed, the legal documents for acquiring the real estate may be executed in their final form only by the President or his designee.

Implementation

The Office of the University Treasurer is responsible for development and maintenance of procedures to implement this policy. A copy of the companion document entitled "Real Estate Acquisition Procedures" is available from that office.

This policy is effective immediately upon its being signed by the President.