23-91.44 - Sale, etc., of real estate. - Virginia Statutes

§ 23-91.44. Sale, etc., of real estate.

The rector and visitors of the University of Mary Washington, with theapproval of the Governor first obtained, are hereby authorized to lease, selland convey any and all real estate to which it has acquired title by gift,devise or purchase since the commencement of the University under anyprevious names, or which may hereafter be conveyed or devised to it. Theproceeds derived from any such lease, sale or conveyance shall be held by therector and visitors of the University of Mary Washington, upon identicaltrusts, and subject to the same uses, limitations and conditions, if any,that are expressed in the original deed or will under which its title wasderived; or if there be no such trusts, uses, limitations or conditionsexpressed in such original deed or will, then such funds shall be applied bythe rector and visitors of the University to such purposes as said board maydeem best for the University.

(1972, c. 861; 2004, cc. 176, 195.)