§ 3339.01 Appointment of trustees – term
§ 3339.03 Purchase of university-owned land
§ 3339.04 Registry of payments, certificates, and deeds
§ 3339.05 Board of trustees to receive and hold funds

Terms Used In Ohio Code > Chapter 3339 - Miami University

  • Advice and consent: Under the Constitution, presidential nominations for executive and judicial posts take effect only when confirmed by the Senate, and international treaties become effective only when the Senate approves them by a two-thirds vote.
  • Deed: The legal instrument used to transfer title in real property from one person to another.
  • Fee simple: Absolute title to property with no limitations or restrictions regarding the person who may inherit it.
  • 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
  • Person: includes an individual, corporation, business trust, estate, trust, partnership, and association. See Ohio Code 1.59
  • Quorum: The number of legislators that must be present to do business.
  • Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
  • Trustee: A person or institution holding and administering property in trust.