33 CFR 137.75 - The relationship of the purchase price to the value of the facility and the real property on which the facility is located, if oil was not at the facility or on the real property.

Regulations last checked for updates: Nov 23, 2024

Title 33 - Navigation and Navigable Waters last revised: Nov 21, 2024

View all text of Subpart B [§ 137.18 - § 137.85]

§ 137.75 - The relationship of the purchase price to the value of the facility and the real property on which the facility is located, if oil was not at the facility or on the real property.

(a) Persons specified in § 137.1(a) must consider whether the purchase price of the facility and the real property on which the facility is located reasonably reflects the fair market value of the facility and real property if oil was not present or likely present.

(b) If the persons conclude that the purchase price does not reasonably reflect the fair market value of that facility and real property if oil was not at the facility and the real property, they must consider whether or not the differential in purchase price and fair market value is due to the presence or likely presence of oil.

authority: 33 U.S.C. 2703(d)(4); Sec. 1512 of the Homeland Security Act of 2002, Pub. L. 107-296, Title XV, Nov. 25, 2002, 116 Stat. 2310 (6 U.S.C. 552(d)); Department of Homeland Security Delegation No. 14000

source: USCG-2006-25708, 73 FR 2150, Jan. 14, 2008, unless otherwise noted.

cite as: 33 CFR 137.75