Property Acquisition

Real Estate (or Real Property) refers to any parcel of land, as well as anything permanently attached to that land, such as buildings and other structures.

The decision for Central Michigan University to accept real property rests solely with the University's Board of Trustees, and is based on whether the acquisition is a sound business decision for the university. Unpaid taxes, environmental study costs, and a slower-than-expected sales return on the property, are some of the reasons for costs incurred beyond the property's purchased or perceived value. For these reasons, any real estate to be accepted by the university shall follow the procedures outlined in the Real Estate: Purchase, Sale and/or Donation Policy.