Transferring Property

All disposals or sales of university personal property and scrap material are handled through Property Disposition. There are also specific guidelines that must be followed if you plan to transfer or sell university property to another institution. These situations usually occur when a project director is moving to another institution and wishes to transfer research equipment to the new institution.

TRANSFERS FROM ANOTHER INSTITUTION

Property Control must be notified of all personal property transferred to the university from another institution, including personal property associated with research grants or contracts previously held by other institutions. Property Control will work with Property Disposition and Financial Operations to establish the asset’s value and record the asset in the Asset Management system. The unit acquiring the asset must give Property Control access to tag it within 60 days of notification of the receipt of asset. 

TRANSFERS BETWEEN U-M DEPARTMENTS

University units are responsible for notifying Finance of any asset transfers between departments within 60 days of transfer. This includes transfers between two units and also transfers between department IDs within the same unit.

To facilitate the transfer, departments should fill out the Inter-Departmental Asset Transfer Form located on the Financial Operations website. The completed form should be emailed to amtransfers@umich.edu, along with an email between both Departments acknowledging the release and receipt of the equipment.

Complying with the above guidelines will help ensure the accuracy of the University of Michigan’s campus inventory, and aid in indirect cost recovery.

TRANSFERS TO ANOTHER INSTITUTION

When a project director is moving to another institution they may wish to transfer research equipment to their new institution. Detailed guidelines can be found in SPG 520.01, Acquisition, Use, and Disposition of Equipment and Other Capital Property. 

If the research equipment is part of an active grant and the grant is being transferred to a new institution, the current custodial department must notify Property Control and complete transfer paperwork indicating which equipment is transferring. In cases where the University of Michigan provided a portion of the funding, the new institution will be asked to reimburse the university for a portion of the appraised value as determined by Property Disposition.

If the grant the equipment was purchased on is now closed, the new institution must purchase the personal property from the University of Michigan through Property Disposition. Contact Property Control to start this process.

In some cases the sponsor may retain full title to the personal property after a grant is closed. In this case, the sponsor decides whether the personal property may be transferred. If the sponsor gives title to U-M at some future date after the termination of the grant or contract, then in the interim period both the university and sponsor may be involved in the transfer situation.

Refer to the Transferring Equipment Guidelines for more information.