§ 200.316 - Property trust relationship.

§ 200.316 Property trust relationship.

Real property, equipment, and intangible property , that are acquired or improved with a the Federal award must be held in trust by the non-Federal entity recipient or subrecipient as trustee for the beneficiaries of the project or program under which the property was acquired or improved. The Federal awarding agency or pass-through entity may require the non-Federal entity recipient or subrecipient to record liens or other appropriate notices of record to indicate that personal or real property has been acquired or improved with a Federal award and that use and disposition conditions apply to the property.