27 CFR 53.103
§ 53.103 Lease considered as sale.
United States · 27 CFR — Alcohol, Tobacco Products and Firearms · Status: effective
Cite this
- Citation
- 27 CFR 53.103, § 53.103 Lease considered as sale, United States, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/118509
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Full text
For purposes of chapter 32 of the Code, the lease of an article by a manufacturer, producer, or importer shall be considered a sale of the article. The term lease means a contract or agreement, written or verbal, which gives the lessee an exclusive, continuous right to the possession or use of a particular article for a period of time. The term includes any renewal or extension of a lease or any subsequent lease of the article.
Legislative history
This is a federal regulation, adopted through agency rulemaking under the Administrative Procedure Act — not enacted by a recorded vote of Congress.