University property includes all furniture, equipment, and instruments purchased or otherwise acquired for use by UNL or any of its components or projects. Title to such property belongs to the University as a whole and not to any department to which it has been allotted, unless otherwise agreed and stated in writing at the time of acquisition.

Title to federally purchased equipment may be retained by the federally sponsored agency or vested in the University, depending on the regulations of the agency and the requirements of the research project.

Materials consumed in the day-to-day operation of the University are considered supplies and are not managed or accounted for as property or equipment.

The rules and procedures for the use of UNL property are outlined in the Bylaws of the Board of Regents, Chapter VI Paragraphs 6.3 and 6.5, and are administered by the Inventory, Surplus & Asset Management Department.