Land Management Office

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Real Estate Leases

Real Estate Leases Section 323: MSU Manual of Business Procedures
Miscellaneous

All real property (real estate) leases, including agricultural property leases, that obligate the University require the approval of the funding department and the review of the Land Management Office.

Unit proposals for leasing office, laboratory, and storage space must be consistent with the program priorities and approved plans of the Major Administrative Unit. Prior to making final arrangements to lease space, the proposal, including the financial conditions of the lease, shall have been reviewed and approved by the Provost for Academic Units or the VP for Finance and Operations for Support Units, and MAU administrator.

When the lease has been prepared for execution, the lease may be authorized by the director of the Land Management Office if:

  1. The lease term is three years or less;
  2. The lease amount is less than $10,000 annually.

All leases with a term of more than three years and/or for an amount of $10,000 or more annually, must be authorized by the Vice President for Finance and Operations.

Agricultural property leases in which MSU is the tenant, require the signature of the operator for funding approval.

Any nonstandard MSU lease may require the review of the Office of General Counsel at the election of the Land Management Office.

The Land Management Office is available to help departments review potential leases.

For questions regarding this site, contact Michelle Starr.
Last Updated: May 26, 2008
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