Property Management

Property Management Policies and Procedures

Title - Ownership

Title - Ownership
• General Information
• Assets Purchased With Grant Funds
• Assets Purchased With Contract Funds
• Asset Purchased with Government Funds

General Information

Title to an asset refers to the legal ownership and control of the item. Title to an asset purchased with University funds vests with the University unless otherwise noted. Title does not vest with the individual department. ALL capital equipment in the posession of the George Washington, regardless of title will be included in the Fixed Asset System. The principal investigator should always refer to the grant or contract terms and conditions and the Office of Sponsored Research (Fund A) and Medical Center Research Administration (Fund B) for the definitive guidelines regarding title, prior approval, and accountability of an asset.

Assets Purchased With Grant Funds

For the majority of Federal agencies, title to assets purchased with awarding agency grant funds automatically vests in the University upon acquisition. Taking title to acquired equipment is reported to the Office of Naval Research (ONR) Administrative Contracting Officer upon termination of the grant.

Assets Purchased With Contract Funds

Asset Purchased with Government Funds

Title to equipment funded or furnished by the Government is defined as follows:

Government Funded:

Equipment partially or completely acquired by George Washington University with government funds under research grants or contracts which provide for transfer of ownership (title) to the University.

Government Furnished:

Equipment in the possession of, or directly acquired by, the government and subsequently loaned to George Washington University. The item may come directly from the government or from a non-government sponsor. Ownership (title) remains with the government unless and until ownership is transferred to George Washington. If that occurs, the item then becomes George Washington owned.

Government Owned:

Equipment partially or completely acquired by George Washington with government funds under a contractual agreement which assigns ownership (title) to the government.

Government Property:

All government furnished or government owned property for which ownership (title) is held by the government.

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Last Update : May 1997