23-231.34 - Sale, etc., of real estate. - Virginia Statutes

§ 23-231.34. Sale, etc., of real estate.

The Board, with the approval of the Governor first obtained, is herebyauthorized to lease, sell, and convey any and all real estate to which NewCollege has acquired title by gift, devise, or purchase since thecommencement of New College under any previous names, or which may hereafterbe conveyed or devised to it. The proceeds derived from any such lease, sale,or conveyance shall be held by New College upon the identical trusts, andsubject to the same uses, limitations, and conditions, if any, that areexpressed in the original deed or will under which its title has derived; orif there be no such trusts, uses, limitations, or conditions expressed insuch original deed or will, then such funds shall be applied by the Board tosuch purposes as it may deem best for New College.

(2006, cc. 808, 842.)