ctcLink Accounting Manual | 30.40 Disposition of State-Owned Real Property

The State Board has statutory authority to sell or otherwise dispose of state-owned real property held for the community and technical college system. All sales or exchanges of real property must be approved by the SBCTC Board.

Sales transactions should be administered by or with the advice of the Department of Enterprise Services’ division of Real Estate Services staff when technical concerns are significant or when the value of the property is high. An appraisal is normally required by the RES to establish the value of the property, even though disposition of the property may vary.

Proceeds of the sale or exchange of real property normally remain with the local college, and may be expended or committed to college use with SBCTC approval.” (See SBCTC Policy Manual Chapter 6.50.40)

Sales transactions should be administered by or with the advice of the Department of Enterprise Services’ division of Real Estate Services staff when technical concerns are significant or when the value of the property is high. An appraisal is normally required by the RES to establish the value of the property, even though disposition of the property may vary.