Terms Used In Kansas Statutes > Chapter 76 > Article 3a - Wichita State University

• Bequest: Property gifted by will.
• Contract: A legal written agreement that becomes binding when signed.
• Deed: The legal instrument used to transfer title in real property from one person to another.
• Deed: is a pplied to an instrument conveying lands but does not imply a sealed instrument. See Kansas Statutes 77-201
• Devise: To gift property by will.
• Donor: The person who makes a gift.
• Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
• Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
• Grantor: The person who establishes a trust and places property into it.
• Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). ^{Source: OCC}
• Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
• Property: includes personal and real property. See Kansas Statutes 77-201
• Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
• real property: include lands, tenements and hereditaments, and all rights to them and interest in them, equitable as well as legal. See Kansas Statutes 77-201
• Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
• road: include public bridges and may be construed to be equivalent to "county way" "county road" "common road" "state road" and "territorial road. See Kansas Statutes 77-201
• seal: includes an impression of the seal upon the paper alone, as well as upon wax or a wafer affixed to the paper. See Kansas Statutes 77-201
• State: when applied to the different parts of the United States, includes the District of Columbia and the territories. See Kansas Statutes 77-201
• Statute: A law passed by a legislature.
• Testator: A male person who leaves a will at death.
• university board: means the board of regents of the university of Wichita;

  (b) the term "state board" means the state board of regents;

  (c) the term "campus property" means the real estate, buildings, furnishings, fixtures, and equipment comprising the educational plant of the university of Wichita; and

  (d) the term "endowment property" means the investment real estate, the net earnings of which are devoted to general educational purposes of said university or to the retirement of revenue bonds, or to special university purposes as prescribed or authorized by the donors of such property, and investment personal property, endowment and scholarship funds of the university of Wichita. See Kansas Statutes 76-3a01