[Code of Federal Regulations]
[Title 20, Volume 2]
[Revised as of April 1, 2004]
From the U.S. Government Printing Office via GPO Access
[CITE: 20CFR435.32]

[Page 1118]
 
                      TITLE 20--EMPLOYEES' BENEFITS
 
               CHAPTER III--SOCIAL SECURITY ADMINISTRATION
 
  PART 435_UNIFORM ADMINISTRATIVE REQUIREMENTS FOR GRANTS AND AGREEMENTS 
 
                    Subpart C_Post-Award Requirements
 
Sec. 435.32  Real property.

    SSA will prescribe requirements for recipients concerning the use 
and disposition of real property acquired in whole or in part under 
awards. Unless otherwise provided by statute, such requirements, at a 
minimum, will contain the following.
    (a) Title. Title to real property will vest in the recipient subject 
to the condition that the recipient will use the real property for the 
authorized purpose of the project as long as it is needed and will not 
encumber the property without approval of SSA.
    (b) Use in other projects. The recipient must obtain written 
approval by SSA for the use of real property in other federally-
sponsored projects when the recipient determines that the property is no 
longer needed for the purpose of the original project. Use in other 
projects is limited to those under federally-sponsored projects (i.e., 
awards) or programs that have purposes consistent with those authorized 
for support by SSA.
    (c) Disposition. When the real property is no longer needed as 
provided in paragraphs (a) and (b) of this section, the recipient must 
request disposition instructions from SSA or its successor Federal 
awarding agency. SSA will observe one or more of the following 
disposition instructions:
    (1) The recipient may be permitted to retain title without further 
obligation to the Federal Government after it compensates the Federal 
Government for that percentage of the current fair market value of the 
property attributable to the Federal participation in the project.
    (2) The recipient may be directed to sell the property under 
guidelines provided by SSA and pay the Federal Government for that 
percentage of the current fair market value of the property attributable 
to the Federal participation in the project (after deducting actual and 
reasonable selling and fix-up expenses, if any, from the sales 
proceeds). When the recipient is authorized or required to sell the 
property, proper sales procedures will be established that provide for 
competition to the extent practicable and result in the highest possible 
return.
    (3) The recipient may be directed to transfer title to the property 
to the Federal Government or to an eligible third party provided that, 
in such cases, the recipient will be entitled to compensation for its 
attributable percentage of the current fair market value of the 
property.