G reit liquidating trust annual report
Personal property is associated with the use of real property if it is predominantly used to construct or otherwise carry out improvements to real property.Such property includes equipment used to alter the natural contours of the land, equipment used to clear and prepare raw land for construction, and equipment used to carry out the construction of improvements.Structural components include walls, partitions, floors, ceilings, windows, doors, wiring, plumbing, central heating and central air conditioning systems, lighting fixtures, pipes, ducts, elevators, escalators, sprinkler systems, fire escapes and other components relating to the operation or maintenance of a building.
This section defines various terms for purposes of sections 897, 1445, and 6039C and the regulations thereunder. Section 1.897-3 sets forth rules pursuant to which certain foreign corporations may elect under section 897(i) to be treated as domestic corporations for purposes of sections 8C.
Personal property is associated with the use of real property if it is predominantly used to exploit unsevered natural products in or upon the land.
Such property includes mining equipment used to extract ores, minerals, and other natural deposits from the ground.
Local law definitions will not be controlling for purposes of determining the meaning of the term “real property” as it is used in sections 897, 1445, and 6039C and the regulations thereunder.
The term “real property” includes land, growing crops and timber, and mines, wells, and other natural deposits.
The term “inherently permanent structure” means any property not otherwise described in this paragraph (b)(3) that is affixed to real property and that will ordinarily remain affixed for an indefinite period of time.