Transfer of ownership.

§ 66.01–55 Transfer of ownership. (a) When any private aid to navigation authorized by the District Commander, or the essential real estate or facility with which the aid is associated, is sold or transferred, both parties to the transaction shall submit application (§ 66.01–5) to the Commander of the Coast Guard District in which the aid is located requesting authority to transfer responsibility for maintenance of the aid. (b) The party relinquishing responsibility for maintenance of the private aid to navigation shall indicate on the application form (CG–2554) both the discontinuance and the change of ownership of the aid sold or transferred. (c) The party accepting responsibility for maintenance of the private aid to navigation shall indicate on the application form (CG–2554) both the establishment and the change of ownership of the aid sold or transferred. (d) In the event the new owner of the essential real estate or facility with which the aid is associated refuses to accept responsibility for maintenance of the aid, the former owner shall be required to remove the aid without expense to the United States. This requirement shall not apply in the case of any authorized private aid to navigation required by statute or regulation (Class I, § 66.01–15) which shall be maintained by the new owner until the conditions which made the aid necessary have been eliminated.