Rudey Excellent question, makes a lot of people think!
How many Alums or even Atives know the answer to the question You asked. Actually damn few!
House Corporations who Own the Property are the deciding factors. Yes, and I am a Member of My Houseing Corp. We are the Elected Deciders of what will happen with said Property. All Members are exfacto Members, but to damn few really care.
So as I mentioned earlier, LXA has Group that is a psuedo part of LXA and they have purchased Some Houses and have rented them out until a rechartering.
Sometimes the property has been sold. It is by School to School decision.
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