GENERAL POLICY                          K010

PURPOSE:

To set forth the procedure for the operations of the University of Miami Real Estate Office.

POLICY:

The function of the University of Miami Real Estate Office is to handle acquisitions, sales and on- and off campus commercial leases of real property, including vessels/vehicles.

PROCEDURES:

All matters concerning the trade, acquisition, sale and lease of real property, including vessels/vehicles, must be coordinated through the University of Miami Real Estate Office.  The Real Estate Office maintains the University legal files regarding all real properties, including lease agreements, mortgages, deeds of owned property, titles, abstracts, and appraisals. The Real Estate Office is responsible for the maintenance of real property, filing applications for property tax exemptions, the coordination of payments for rent and real property taxes, and the acceptance of mortgage and rental payments. The Real Estate Office provides a report for review annually to the Master Planning and Construction Committee, giving the status of all properties and leases.  Following the Committee's review, the report is presented to the Executive Committee of  the Board of Trustees for information only. For further information, the University of Miami Real Estate Office is located at:

Facilities Administration Building
1535 Levante Avenue, Room 205
Coral Gables, Florida 33124-2820