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Code of Federal Regulations Title 49. Transportation 49 CFR § 1201.732 732 Improvements on leased property

Current as of October 02, 2022 | Updated by FindLaw Staff

(a) This account shall include the cost of improvements made by the lessee to property which is held under lease from others or through control of the company owning the property, where such improvements are used by the lessee in transportation service, and the lessee is not to be reimbursed by the lessor for such improvements. (See instruction 2–18.)

(b) The carrier's records shall be kept in such manner as to show the debits and credits to this account in accordance with the provisions for road and equipment.

Note A:  This account shall not include any items representing titles to securities.

Note B:  When the lessor company includes in account 731, “Road and equipment property,” the cost of improvements made by the lessee to property, leased by it from the lessor and settlement is not made at the time for the cost thereof, the lessee, pending settlement with the lessor, shall include the cost thereof in account 721, “Investments and advances;  Affiliated companies,” or 722, “Other investments and advances,” as appropriate.

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Cite this article: FindLaw.com - Code of Federal Regulations Title 49. Transportation 49 CFR § 1201.732 732 Improvements on leased property - last updated October 02, 2022 | https://codes.findlaw.com/cfr/title-49-transportation/cfr-sect-49-1201-732/

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