Title and Ownership of Equipment
University of Florida has title (ownership) and/or will receive title to all property purchased with unrestricted funds or received as gifts or donations to the University. This includes all property located in any UF approved location, any controlled item that is offsite, or on loan at other institutions.
Title to property purchased with funds from a grant or contract will vest according to the terms and conditions of the grant or contract (aka “award”). Unless otherwise specified in the terms and conditions of an award, UF generally has title either immediately or at the end of the contract or grant. Asset Management will work with the funding agency to determine title in cases where ownership is not clearly stated.
Only Asset Management and UF Surplus have been designated by the university president via the Property Management Committee to approve dispositions of UF owned and managed equipment. Thus, colleges, divisions, departments, and staff or faculty do NOT have the authority to dispose of UF owned or managed furniture and equipment. All requests to dispose of furniture and equipment owned or managed by UF are to be submitted and approved in myAssets.