Leased asset adjustment, transfer, or disposal

As long as you cannot change the book basis of a leased asset, you can adjust and transfer a leased asset similar to a non-leased asset. See the Asset Accounting User Guide to adjust or transfer assets.

If you are disposing of an asset because the lease on the asset is terminating, then you must first close the lease and dispose of the asset. See the Asset Accounting User Guide for disposing of assets.

If you are adjusting an asset because you are buying the asset and terminating the lease early, then you must first retire the lease and adjust the asset.