# Ohio Rev. Code § 3333.09: Conveyances - lease-back agreements

> Ohio · Statutes · In force

URL: https://www.frixlaw.com/law-library/statutes/STATE_OH_T33_C3333_S3333.09

## Section

- **Citation:** Ohio Rev. Code § 3333.09
- **Heading:** Conveyances - lease-back agreements
- **Jurisdiction:** Ohio
- **Kind:** Statutes
- **Status:** In force
- **Text as of:** August 14, 2026
- **Source:** Compiled text
- **Location:** Ohio Revised Code / Title 33 / Chapter 3333 / § 3333.09

## Text

September 29, 2015 House Bill 64 - 131st General Assembly "Public university or college," as used in this section, means any nonprofit university or college situated within this state which is open to the public on equal terms and which is not affiliated with or controlled by an organization which is not primarily educational in nature. Any such university or college shall be considered to be serving a public purpose. The chancellor of higher education may, upon the chancellor's determination that such action would serve the interests of higher education in this state, in terms of expansion of educational opportunity in a major urban area and in terms of expansion of educational service to a major urban community, accept conveyances of land, situated within this state, from any public university or college and enter into an agreement before or after such conveyance to lease to such public university or college, upon terms as may be prescribed by the chancellor, such land together with buildings constructed thereon and furniture, fixtures, and equipment therein for use as an educational facility. The lease shall be for a period not to exceed fifty years, renewable for a like term, and shall provide that such buildings be used solely for educational purposes and that the chancellor may cancel such lease if such buildings are used for other purposes. Such lease may contain provisions for the sale of such property to the lessee, upon the consent of the chancellor, for a purchase price not less than the actual cost to the chancellor, less depreciation, computed at the rate customarily applied to similar structures. The chancellor, through the department of administrative services, may construct, equip, or remodel buildings on lands accepted by the chancellor in the name of the state pursuant to this section. Title to lands acquired under this section shall be taken in the name of the state. Responsibility for the proper use, maintenance, and repair of leased buildings shall rest upon the lessee.

## Nearby sections

- [Ohio Rev. Code § 3333.01 § 3333.01. [Former R.C. 3333.03, renumbered by H.B. 33, 135th General Assembly, effective 10/3/2023] Department of higher education; chancellor of higher education](https://www.frixlaw.com/law-library/statutes/STATE_OH_T33_C3333_S3333.01.md)
- [Ohio Rev. Code § 3333.04 § 3333.04. Chancellor - powers and duties](https://www.frixlaw.com/law-library/statutes/STATE_OH_T33_C3333_S3333.04.md)
- [Ohio Rev. Code § 3333.05 § 3333.05. Chancellor to approve plans and charter of community colleges](https://www.frixlaw.com/law-library/statutes/STATE_OH_T33_C3333_S3333.05.md)
- [Ohio Rev. Code § 3333.06 § 3333.06. State plan - federal grants](https://www.frixlaw.com/law-library/statutes/STATE_OH_T33_C3333_S3333.06.md)
- [Ohio Rev. Code § 3333.07 § 3333.07. Restrictions on state institutions](https://www.frixlaw.com/law-library/statutes/STATE_OH_T33_C3333_S3333.07.md)
- [Ohio Rev. Code § 3333.08 § 3333.08. Appropriating property](https://www.frixlaw.com/law-library/statutes/STATE_OH_T33_C3333_S3333.08.md)
- [Ohio Rev. Code § 3333.09 § 3333.09. Conveyances - lease-back agreements](https://www.frixlaw.com/law-library/statutes/STATE_OH_T33_C3333_S3333.09.md)
- [Ohio Rev. Code § 3333.10 § 3333.10. Granting aid to nonprofit medical, osteopathic and dental schools](https://www.frixlaw.com/law-library/statutes/STATE_OH_T33_C3333_S3333.10.md)
- [Ohio Rev. Code § 3333.11 § 3333.11. Department of family practice](https://www.frixlaw.com/law-library/statutes/STATE_OH_T33_C3333_S3333.11.md)
- [Ohio Rev. Code § 3333.012 § 3333.012. References to Ohio board of regents, chancellor](https://www.frixlaw.com/law-library/statutes/STATE_OH_T33_C3333_S3333.012.md)
- [Ohio Rev. Code § 3333.13 § 3333.13. Service attorney definition](https://www.frixlaw.com/law-library/statutes/STATE_OH_T33_C3333_S3333.13.md)
- [Ohio Rev. Code § 3333.14 § 3333.14. Public post high school technical education programs](https://www.frixlaw.com/law-library/statutes/STATE_OH_T33_C3333_S3333.14.md)
- [Ohio Rev. Code § 3333.15 § 3333.15. Establishment of university branch by chancellor](https://www.frixlaw.com/law-library/statutes/STATE_OH_T33_C3333_S3333.15.md)
- [Ohio Rev. Code § 3333.16 § 3333.16. Universal course equivalency classification system for state institutions of higher education](https://www.frixlaw.com/law-library/statutes/STATE_OH_T33_C3333_S3333.16.md)

---

Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/STATE_OH_T33_C3333_S3333.09. Check the current official text before relying on it. Not legal advice.