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leaseback |
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Leaseback A transaction that involves the sales of some property, and an agreement by the seller to lease the property back from the buyer after the sale.
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According to generally accepted accounting principles (GAAP), because of the simultaneous 15-year leaseback, the entire pre-tax gain of $5 million would be recognizable over the life of the lease, rather than in the year of the sale. Four tests must be met for a leaseback to be considered valid. One strategy that could provide tax and financial advantages to both a corporation and its controlling shareholder is a sale and leaseback of real property in which the corporation sells real estate with a building on it to the shareholder, who, in turn, leases both back to the company. |
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