Section 18Sec./Art. 18

Assets, Liabilities and Personnel. - All assets, real and personal, personnel and records of the PIT and the MRVNPC, as well as liabilities or obligations, are hereby transferred to the University. The positions, rights and security of tenure of faculty members and personnel therein employed under existing laws prior to the conversion into a University shall be respected.

All parcels of land belonging to the government occupied by the PIT and the MRVNPC are hereby declared to be properties of the University, and shall be titled under the name of the University: Provided, That should the University cease to exist or be abolished or should such parcels of land aforementioned be no longer needed by the University, the same shall revert to the Province of Leyte.