245-500 Acquisition of ownership of fixture when another ceases to own it
Where a person is treated as ceasing to own a fixture, somebody else may be treated as acquiring the fixture at that time.
Termination of lease or licence
The first circumstance given in the legislation is where an outgoing lessee or licensee is treated under CAA 2001, s. 188 as ceasing to be the owner of a fixture on the termination of a lease or licence. In such a case, the lessor or the licensor is to be treated as the owner of the fixture from the time that the lease or licence is terminated.