[Code of Federal Regulations]
[Title 34, Volume 1]
[Revised as of July 1, 2003]
From the U.S. Government Printing Office via GPO Access
[CITE: 34CFR74.37]

[Page 119]
 
                           TITLE 34--EDUCATION
 
PART 74--ADMINISTRATION OF GRANTS AND AGREEMENTS WITH INSTITUTIONS OF 
HIGHER EDUCATION, HOSPITALS, AND OTHER NON-PROFIT ORGANIZATIONS--Table of 
Contents
 
                   Subpart C--Post-Award Requirements
 
Sec. 74.37  Property trust relationship.

    Real property, equipment, intangible property, and debt instruments 
that are acquired or improved with Federal funds must be held in trust 
by the recipient as trustee for the beneficiaries of the project or 
program under which the property was acquired or improved. The Secretary 
may require recipients to record liens or other appropriate notices of 
record to indicate that personal or real property has been acquired or 
improved with Federal funds and that use and disposition conditions 
apply to the property.

(Authority: 20 U.S.C. 1221e-3, 3474; OMB Circular A-110)

                          Procurement Standards