34 CFR 12.8 – What transfer or lease instruments does the Secretary use?
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(a) The Secretary transfers or leases surplus Federal real property using transfer or lease instruments that the Secretary prescribes.
Terms Used In 34 CFR 12.8
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
(b) The transfer or lease instrument contains the applicable terms and conditions described in this part and any other terms and conditions the Secretary or Administrator determines are appropriate or necessary.