5.5.1 Building Ownership Status

1. Definition. The type of ownership and relation of title holder to institution.
2. Description. The following categories illustrate types of ownership status; they may also be used as descriptors of codes for ownership status in the facilities inventory database.
   1. Owned in fee simple.
   2. Title vested in the institution and being paid for on an amortization schedule (regardless of whether the building is shared with another institution or organization).
   3. Title vested in a holding company or building corporation to which payments are being made by the institution; title will ultimately pass to the institution (includes lease-purchase arrangements).
   4. Not owned by the institution:
      1. Leased or rented to the institution at a typical local rate.
      2. Available to the institution either at no cost or at a nominal rate.
      3. Shared with an educational organization that is not a postsecondary institution.
      4. Shared with another postsecondary education institution.
      5. Owner may or may not be university affiliated, but building is used exclusively for institutional services (e.g., housing, bookstore, food service, warehouse). Facility is located on institutional property.
      6. Shared with a noneducational institution.

Note: For some institutional purposes and external sharing of data, it may be appropriate to collapse categories iv (a) through (f) into a single category of “Other, not owned by the institution, including facilities shared with other entities.”

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