Contact Officer: Associate Vice-Principal (Facilities)
Purpose
The purpose of this procedure is to describe the process for the acquisition and disposition of real estate property.
Procedure
Purchases and Dispositions of Real Estate
No real estate purchases or dispositions should be contemplated without discussion with Campus Planning & Real Estate (CPRE).
| Responsible Officer/Section | Process |
|---|
| Originating Department | - Once the need for acquisition or disposal of real estate property has been identified, the department/faculty or business unit must first consult with Campus Planning & Real Estate (CPRE).
|
| Campus Planning & Real Estate | - SLT is required to pre-approve all acquisitions or dispositions of real property.
- The Board of Trustees must approve real estate purchases over $5 million and dispositions over $2 million. For transactions under these thresholds, SLT approval is required. CPRE will work with the Vice-Principal (Finance and Administration) as well as the Office of the University Secretariat and Legal Counsel to obtain approval.
- CPRE will coordinate signature of legal documentation related to the property acquisition or disposition, including review by the Office of the University Secretariat and Legal Counsel or approval by the University Legal Counsel to use external legal counsel.
- Documentation related to the acquisition or disposal of real estate must be signed in accordance with the Contract and Invoice Signing Authority, Approval, and Execution Policy.
- Copies of documentation must be forwarded to Financial Services, Attention: Controller
|
Date Approved: October 2, 2026
Approval Authority: SLT
Date of Commencement: October 2026
Amendment Dates:
Date for Next Review: 2031
Related Policies, Procedures and Guidelines:
