What is the role of the receiving custodian during a property transfer?

• A. Acknowledge receipt of the asset.
• B. Dispose of the asset.
• C. Value the asset.
• D. Approve the transfer.

Answer: (A)

The receiving custodian’s main responsibility is to acknowledge receipt of the asset and establish custody. They verify the item against the transfer documents, check serial numbers or tags, and update the asset record with the new custodian, location, and date. This creates a clear chain of custody and ensures the asset is properly safeguarded and accounted for. Disposing of the asset, valuing it, or approving the transfer are not duties of the receiving custodian; those tasks are handled by other roles in the process.