West Virginia Code 5A-10-3 – Powers and duties of Real Estate Division
The Real Estate Division has the following powers and duties:
Terms Used In West Virginia Code 5A-10-3
- Appraisal: A determination of property value.
- Contract: A legal written agreement that becomes binding when signed.
- 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.
- real property: include lands, tenements and hereditaments, all rights thereto and interests therein, except chattel interests. See West Virginia Code 2-2-10
- State: when applied to a part of the United States and not restricted by the context, includes the District of Columbia and the several territories, and the words "United States" also include the said district and territories. See West Virginia Code 2-2-10
(1) To provide leasing, appraisal and other real estate services to state spending units;
(2) To ensure that the purchase of real estate and all contracts for lease are based on established real estate standards and fair market price;
(3) To develop and implement minimum lease space standards for the lease of any grounds, buildings, office or other space required by any spending unit of state government;
(4) To develop and implement minimum standards for the selection and acquisition, by contract or lease, of all grounds, buildings, office space or other space by a spending unit of state government except as otherwise provided in this article;
(5) To establish and maintain a comprehensive database of all state real estate contracts and leases;
(6) To develop policies and procedures for statewide real property management;
(7) To maintain a statewide real property management system that has consolidated real property, building and lease information for all departments, agencies and institutions of state government;
(8) To develop and maintain a centralized repository of comprehensive space needs for all state departments, agencies and institutions of state government, including up-to-date space and resource utilization, anticipated needs and recommended options;
(9) To provide statewide policy leadership and coordinate master planning to guide and organize capital asset management; and
(10) To provide assistance to all state departments, agencies or institutions in acquiring, leasing and disposing of real property.