IMPORTANT NOTICE: DEPARTMENTS SHOULD INFORM EQUIPMENT MANAGEMENT OF POTENTIAL TRANSFERS OF EQUIPMENT AS FAR IN ADVANCE AS POSSIBLE. Determination of the final list of equipment (and non-inventorial property) to be sold or transferred, negotiations with sponsoring agencies, and completion of the sales/transfer agreement with the new institution, can take a considerable amount of time.
Business & Finance Bulletin BUS-38 - Disposition of Excess Property and Transfer of University-Owned Property defines the policies and procedures related to PI transfers to other universities.
A department chair alone cannot approve a transfer of equipment. A sales/transfer agreement must be prepared by Equipment Management.
Under no circumstances can property purchased with state funds, including start-up funds, be transferred to another institution at no cost. Whatever the funding source, the University’s default policy is that any equipment to be transferred must be sold to the new institution.
No property may leave campus until the sales/transfer agreement has been signed by all parties and payment (if applicable) has been received by the University.
Equipment purchased (all or in part) with Federal Funds is subject to additional considerations.
Special Conditions - Federally-Funded Equipment
- No equipment with Government title may be transferred without agency approval.
- If open awards move with a PI to another institution, all equipment acquired under those awards will be transferred at no cost to the new institution, as instructed by the agency.
- If a PI wishes to transfer equipment acquired under closed awards, no-cost transfers or even sales agreements cannot be approved automatically. The unit fair market value of the equipment must be taken into consideration.
- Equipment with a unit fair market value of $5,000 or less may be sold or transferred without obligation to the agency.
- In the case of equipment with a unit fair market value greater than $5,000:
- No cost transfers must be approved by the agency (generally, the agency will require that the PI continue to use the equipment for Federal research at the new institution).
- Sales must also be approved by the agency and, if approved, we must return the proceeds to the agency. The new institution cannot use Federal funds for the acquisition.
- It is possible that the agency will not approve the sale or no cost transfer and will request that the equipment be returned to the agency, or sold and the proceeds returned to it.