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:
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
Resources
- University Counsel
- Facilities Planning & Management
- Office of the Vice President for Business & Finance
Category
For questions about this record type, contact: University Counsel