Directive on the Management of Real Property
The directive ensures that real property is planned, acquired, used, and disposed of in a manner that supports the delivery of programs and services to Canadians, while ensuring best value to the Crown.
Date modified: 2022-11-18
Supporting tools
Guide:
Mandatory procedures:
More information
Policy:
Topic:
Hierarchy
The requirements in the Directive on the Management of Real Property take effect on May 13, 2021 and replace the following instruments:
Appendix B: Mandatory Procedures for Appraisals and Estimates
B.1 Effective date
- B.1.1These procedures take effect on May 13, 2021.
- B.1.2These procedures replace sections of the following Treasury Board policy instruments:
- Policy on Management of Real Property (November 1, 2006)
- Appraisals and Estimates Standard for Real Property (November 1, 2006)
B.2 Procedures
- B.2.1These procedures provide details on the requirements set out in subsections 4.2.21, 4.2.27, 4.2.39, 4.2.42 and 4.2.43 of the Directive on the Management of Real Property.
- B.2.2Real property practitioners must apply the mandatory procedures described below.
- B.2.2.1Obtain at least one appraisal from the Chief Appraiser of Canada before acquiring or disposing of real property, except:
- B.2.2.1.1When there will be an open solicitation of offers and the total value of the real property interest is anticipated to be less than $500,000; in this situation, obtain at least one current estimate of the market value;
- B.2.2.1.2When there is no open solicitation of offers and the value of the lease or licence is anticipated to be less than $25,000 total consideration; in this situation, obtain at least one current estimate of the market value;
- B.2.2.1.3When there is a transfer of administration between federal departments with no exchange of funds; in this situation, no appraisal or estimate of the market value is required;
- B.2.2.2Segregate transaction and valuation responsibilities related to real property transactions.
- B.2.2.1Obtain at least one appraisal from the Chief Appraiser of Canada before acquiring or disposing of real property, except: