What does DOD mean in real estate?
What does DOD mean in real estate?
One of the terms of any real estate contract is the possession date. For years, it was customary for possession to be given on the DOD, or date of deed. In other words, if the house was to close on May 3, that is when possession would be given to the buyer.
What is real property in the Army?
include all real property types—buildings, structures, linear structures, and land. DOD uses facilities to refer to buildings, structures, and linear structures.
What is real property inventory?
Real Property Inventory (RPI) is a record of an organization’s real property asset (land, building, or structure). RPAM provides data to manage those assets and meet asset record and reporting requirements.
How much real estate does DoD own and maintain?
Today, the Department of Defense (DoD) maintains an inventory ofreal property that is comprised of over 562,000 facilities on more than 4,800 sites located in all 50 states, 7 U.S. territories, and 40 foreign countries. The annual cost to operate and maintain these facilities is estimated at over $30 billion.
What is a new loan termination deadline?
13 – New Loan Termination Deadline. The New Loan Termination Deadline is to aid the Buyer determining whether the new loan is satisfactory to their needs. This includes payments, interest rate, terms, conditions, and cost. This deadline is for the sole benefit of the Buyer. This is usually 24-30 days from the MEC.
What are DoD assets?
In military usage, a military asset is a weapon or means of production of weapons or other defensive or offensive devices or capabilities.
What is considered real property in the Air Force?
A complete real property inventory consists of all sites, including all lands and facilities, for which the Air Force has real property accountability, regardless of the organization using or funding the facility or land. Reference: AFI 32-9005.
Is inventory considered personal property?
Every business has furniture, fixtures, equipment, inventory or other components owned by the company that lend themselves to the production of income. This is considered business personal property, and it is taxable in many jurisdictions.
Who owns the Pentagon property?
Department of Defense
The Pentagon is the world’s largest office building, with about 6.5 million square feet (150 acres; 60 ha) of floor space, of which 3.7 million sq ft (85 acres; 34 ha) are used as offices….
| The Pentagon | |
|---|---|
| Completed | 15 January 1943 |
| Cost | $83 million (equivalent to $1.13 billion in 2019) |
| Owner | Department of Defense |
| Height |
How much of Alaska is federal land?
60%
Federal Land The federal government is still the largest landowner in Alaska with 60% of the total area (222 million acres). This acreage includes national parks, wildlife refuges, national forests, military reservations and the North Slope National Petroleum Reserve.
What happens if you miss the appraisal deadline?
For instance, a 10-day appraisal deadline means that the appraisal must be performed within 10 days after the contract ratification date. If the deadline is missed, then the contingency is no longer in effect.
What is Rpad and how is it used?
DOD uses RPAD to report on DOD’s real property to Congress and other federal agencies, such as the Office of Management and Budget and the General Services Administration to assist in managing federal real property.
Who is legally responsible for the DoD real property?
The Military Departments and Washington Headquarters Services are legally responsible for the DoD real property under their jurisdiction, control and management.
How has Gao responded to discrepancies in Rpad data?
GAO reviewed records of 120 facilities with identified discrepancies in fiscal year 2015 RPAD data and compared them to the records in the respective data system in 2017 and found that 61 discrepancies remained. The military services had corrected the data in the remaining 59 reviewed facilities in their data systems.
How should the Secretary of the Air Force monitor real property records?
The Secretary of the Air Force should require monitoring of its processes used for recording all required real property information–to include evaluating on an ongoing basis whether or to what extent these activities are being carried out–and remediating any identified deficiencies. (Recommendation 3)
