34 CFR § 12.2 - What definitions apply?
(a) Definitions in the Act. The following terms used in this part are defined in section 472 of the Act:
(b) Definitions in the Education Department General Administrative Regulations (EDGAR). The following terms used in this part are defined in 34 CFR 77.1:
(c) Other definitions: The following definitions also apply to this part:
Abrogation means the procedure the Secretary may use to release the transferee of surplus Federal real property from the covenants, conditions, reservations, and restrictions contained in the conveyance instrument before the term of the instrument expires.
Act means the Federal Property and Administrative Services Act of 1949, as amended, 63 Stat. 377 (40 U.S.C. 471 et seq.).
Nonprofit institution means any institution, organization, or association, whether incorporated or unincorporated -
(1) The net earnings of which do not inure or may not lawfully inure to the benefit of any private shareholder or individual; and
(2) That has been determined by the Internal Revenue Service to be tax-exempt under section 501(c)(3) of title 26.
Off-site property means surplus buildings and improvements - including any related personal property - that are capable of being removed from the underlying land and that are transferred by the Secretary without transferring the underlying real property.
Period of restriction means that period during which the surplus Federal real property transferred for educational purposes must be used by the transferee or lessee in accordance with covenants, conditions, and any other restrictions contained in the conveyance instrument.
Public benefit allowance (“PBA”) means the credit, calculated in accordance with appendix A to this part, given to a transferee or lessee which is applied against the fair market value of the surplus Federal real property at the time of the transfer or lease of such property in exchange for the proposed educational use of the property by the transferee or lessee.
Related personal property means any personal property -
(1) That is located on and is an integral part of, or incidental to the operation of, the surplus Federal real property; or
(2) That is determined by the Administrator to be otherwise related to the surplus Federal real property.
Surplus Federal real property means the property assigned or suitable for assignment to the Secretary by the Administrator for disposal under the Act.
Transfer means to sell and convey title to surplus Federal real property for educational purposes as described in this part.