INTANGIBLE ASSETS - LAND USE RIGHTS - 8615.2

Land use rights include easements or mineral, timber, and water rights. Land use rights acquired in a transaction that does not involve acquiring the associated land should be reported as an intangible asset. In contrast, land use rights acquired with a land purchase are reported as land. Land use rights are amortizable if their estimated useful life is limited by contract, law, or regulation. See SAM section 8610.1, Land.

Record Land Use Rights in Accounts 1620400 (Legacy Account 2412) or 1625400 (Legacy Account 2422).