What is the definition of "leased property" in the Coast Guard context?

In the context of the Coast Guard, "leased property" refers to property that is not owned by the Coast Guard but is utilized by them under a lease agreement. This arrangement allows the Coast Guard to access and make use of facilities or equipment that may be necessary for their operations without the financial commitment of purchasing the property outright. Leasing is a strategic option, especially when the need for the property is temporary or specific to a particular operation, allowing for flexibility in resource management.

In contrast to this definition, property owned by the Coast Guard would refer to assets that the organization fully owns and manages. Similarly, property that is permanently acquired suggests ownership rather than a temporary use situation inherent in leasing. Property utilized solely by contractors indicates that the property is not under direct control or use by the Coast Guard, which does not align with the concept of leased property as it specifically denotes usage by the Coast Guard. Thus, the definition of "leased property" clearly captures the essence of a lease arrangement in which the Coast Guard has the right to use property owned by another entity.