VA Lenders Handbook (VA Pamphlet 26-7), Chapter 12, Topic 24 — Leased Mechanical Systems and Equipment

va-m26-7-ch12-t24

VA Lenders Handbook (VA Pamphlet 26-7), Chapter 12, Topic 24 — Leased Mechanical Systems and Equipment.

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Verbatim provisions from VA Lenders Handbook (VA Pamphlet 26-7), Chapter 12, Topic 24 — Leased Mechanical Systems and Equipment — each quote is a verified substring of the regulator-published source snapshot, not retyped. Quoted for reference; this is not legal advice. The operational layer (P&P updates, prompts) lives in the regulation update kits.

VA Pamphlet 26-7, Chapter 12 (Minimum Property Requirement), Topic 24 — Leased Mechanical Systems and Equipment

Effective 2019-03-28 · publisher's stamp for this provision

Topic 24. Leased Mechanical Systems and Equipment Change Date: March 28, 2019 This Chapter has been revised in its entirety. a. No Value to Leased Equipment The appraiser must not include the value of any leased mechanical systems or any other leased equipment in the estimated market value as leased items are not suitable security for a loan. This includes, but is not limited to, fuel or propane storage tanks, solar or wind systems (including power purchase agreements), and other alternative energy equipment. b. Leased Equipment to be Noted in the Appraisal The appraiser must identify leased items in the appraisal report. Some leases may encumber the title making the property less than fee simple. The appraiser must consider any detrimental effect on the value of the property if the leased items are removed by the lessor.

Source: VA Pamphlet 26-7, Chapter 12 (Minimum Property Requirement), Topic 24 — Leased Mechanical Systems and Equipment · source URL · snapshot 9df31307e7a2b3e6

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Source of record: https://claudeforcompliance.com/regs/va-m26-7-ch12-t24/ · register va-m26-7-ch12-t24 · verbatim, source-snapshotted regulator text from the Claude for Compliance corpus. To work from every register at once, download the corpus and follow the methodology.