Real Estate - Land and Buildings

This category includes records related to real property currently/actively owned by the university, and records related to property previously owned/sold by the university.

Examples of records to be retained that are related to real estate, land, and buildings include:
  • Sale and Purchase Agreements
  • Appraisals
  • Competitive bidding documentation
  • Auctioneer agreements
  • Plats, maps and surveys
  • Environmental assessments
  • Deeds (e.g., Warranty Deeds, Quit Claim Deeds, State Land Patents)
  • Abstracts of Title (originals for currently owned properties; copies for sold properties, original goes to the buyer)
  • Receipt of Abstract (documentation showing ISU gave abstract to buyer)
  • Title Opinions
  • Affidavits and resolutions establishing the seller had authority to sell to ISU
  • Certificates of Non-Foreign Status
  • Statements of Representations and Warranties
  • Settlement Statements (documents showing any credits to the buyers, such as prorated taxes)
  • Documentation relating to source of funds for purchase of real estate and any restrictions imposed
  • Documentation relating to any determination by government body that property is exempt from taxes
  • Easements
  • Agreements containing option to purchase and right of first refusal to purchase
  • Other documents identified at time of closing by Facilities, Planning & Management and/or University Counsel

Last updated: 06 May 2010

Active Retention

Retention: For as long as the property is currently/actively owned by Iowa State University
Managed By: Facilities Planning & Management

Inactive Retention

Retention: 2 fiscal years – After the sale of the property
Stored By: Facilities Planning and Management

Permanent Retention

Archived By: University Archives

Data Classification

Restricted if contains sensitive content



For questions about this record type, contact: University Counsel