{"schema_version":2,"canonical_url":"https://asc.understandingaccounting.org/asc/350/950/","source":"FASB Accounting Standards Codification, Basic View","usage":"Study and research edition. Verify current requirements with the official source. Summaries, enrichment, and tags are machine-generated study aids. Paragraph html preserves source markup; snippet is abbreviated. Pending content is not necessarily effective.","number":"350-950","topic":"350","title":"Financial Services—Title Plant","area":"Assets","paragraphs":19,"summary":"ASC 350-950 governs accounting for title plants — the indexed historical records of land ownership, encumbrances, maps, and prior title reports used by title insurers, abstract entities, and title agents. Costs directly identifiable with constructing a title plant (and purchased title plants, recorded at cost/fair value of consideration given) are capitalized, while maintenance and title search costs are expensed as incurred. Capitalized title plant is not amortized or depreciated; it is carried indefinitely unless impaired under the Impairment or Disposal of Long-Lived Assets Subsections of Subtopic 360-10.","concepts":["title plant","backplant","capitalization of construction costs","title plant maintenance","title searches","no amortization","impairment indicators","undivided ownership interest"],"categories":["Recognition","Initial measurement","Subsequent measurement","Impairment"],"level":"intermediate","topic_title":"Intangibles—Goodwill and Other","sections":[{"number":"00","label":"00 Status","anchor":"00-status","is_sec":false,"groups":[{"block":null,"heading":null,"paragraphs":[{"citation":"350-950-00-1","para":"00-1","html":"
The following table identifies the changes made to this Subtopic.
ParagraphActionAccounting Standards UpdateDate
ContractAddedAccounting Standards Update No. 2014-0905/28/2014
CustomerAddedAccounting Standards Update No. 2014-0905/28/2014
RevenueAddedAccounting Standards Update No. 2014-0905/28/2014
950-350-40-1AmendedAccounting Standards Update No. 2014-0905/28/2014
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This Subtopic addresses the accounting and reporting for title plant and related intangible assets.
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A title plant consists of all of the following:
  1. a
    Indexed and catalogued information for a period concerning the ownership of, and encumbrances on, parcels of land in a particular geographic area
  2. b
    Information relating to persons having an interest in real estate
  3. c
    Maps and plats
  4. d
    Copies of prior title insurance contracts and reports
  5. e
    Other documents and records.
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A title plant constitutes a historical record of all matters affecting title to parcels of land in a particular geographic area. The number of years covered by a title plant varies, depending on regulatory requirements and the minimum information period considered necessary to issue title insurance policies efficiently.
","snippet":"A title plant constitutes a historical record of all matters affecting title to parcels of land in a particular geographic area. The number of years covered by a title plant varies, depending on regulatory requirements a…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:0aff9d8a3a5c65c781fb7e27cb00605083b2f2dc6b5741032ccd1f3571f75291","downloaded_from":"2026-09-10T00:04:51.049Z","last_downloaded_at":"2026-09-10T00:04:51.049Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478528","source_sha256":"cdebf74d6b13e38a3fc06f68d0b4f5d675c3d2eba768511b42edc6e4ca8f6a11"}},{"citation":"350-950-05-4","para":"05-4","html":"
An entity may decide to construct or purchase a title plant that antedates the period covered by its existing title plant (backplant).
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Title plant maintenance involves the updating of the title plant on a daily or other frequent basis by adding both of the following:
  1. a
    Reports on the current status of title to specific parcels of real estate
  2. b
    Other documents, such as records relating to security or other ownership interests.
","snippet":"Title plant maintenance involves the updating of the title plant on a daily or other frequent basis by adding both of the following:\n(a) Reports on the current status of title to specific parcels of real estate\n(b) Other…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:ec5ecebcec682cab2333df9fbb631c9e44697547c271bf7f97671e07510a8fc5","downloaded_from":"2026-09-10T00:04:51.049Z","last_downloaded_at":"2026-09-10T00:04:51.049Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478528","source_sha256":"cdebf74d6b13e38a3fc06f68d0b4f5d675c3d2eba768511b42edc6e4ca8f6a11"}},{"citation":"350-950-05-6","para":"05-6","html":"
Title searches involve the process of searching through records for all recorded documents or updating information summarized in the most recently issued title report.
","snippet":"Title searches involve the process of searching through records for all recorded documents or updating information summarized in the most recently issued title report.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:ab135ba663b7a9af43f6b92ab0d105b079977e2550299268c9e6e4852393ef42","downloaded_from":"2026-09-10T00:04:51.049Z","last_downloaded_at":"2026-09-10T00:04:51.049Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478528","source_sha256":"cdebf74d6b13e38a3fc06f68d0b4f5d675c3d2eba768511b42edc6e4ca8f6a11"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:64bc4752dac91a8386a48c8e0b851544a2ba8bc93cbbd0fbdf25f034a1cfca8d","downloaded_from":"2026-09-10T00:04:51.049Z","last_downloaded_at":"2026-09-10T00:04:51.049Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478528","source_sha256":"cdebf74d6b13e38a3fc06f68d0b4f5d675c3d2eba768511b42edc6e4ca8f6a11"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:4068d2ff86216f10678a602d3c0e0f53b9a81f888fe53d989752295a5dd02612","downloaded_from":"2026-09-10T00:04:51.049Z","last_downloaded_at":"2026-09-10T00:04:51.049Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478528","source_sha256":"cdebf74d6b13e38a3fc06f68d0b4f5d675c3d2eba768511b42edc6e4ca8f6a11"}},{"number":"15","label":"15 Scope and Scope Exceptions","anchor":"15-scope-and-scope-exceptions","is_sec":false,"groups":[{"block":null,"heading":"Entities","paragraphs":[{"citation":"350-950-15-1","para":"15-1","html":"
The guidance in this Subtopic applies to all entities that use a title plant in their operations. Those entities include, but are not limited to:
  1. a
    Title insurance entities (underwriters)
  2. b
    Title abstract entities
  3. c
    Title agents.
","snippet":"The guidance in this Subtopic applies to all entities that use a title plant in their operations. Those entities include, but are not limited to:\n(a) Title insurance entities (underwriters)\n(b) Title abstract entities\n(c…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:a4c49f23e35c7c3898e3a17191c6d95bc7fa5779a9a711a3670d0b4d9753548b","downloaded_from":"2026-09-10T00:04:54.962Z","last_downloaded_at":"2026-09-10T00:04:54.962Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477761","source_sha256":"63ea2602f2a3cabc7eb263f5ca39832822415b616abada86ec74e3c570fdc5d8"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:477dfc9f37a0e94f4e886fac5fb73e80bce6cdcf4ddc3209a4b4e0f98a9e35fe","downloaded_from":"2026-09-10T00:04:54.962Z","last_downloaded_at":"2026-09-10T00:04:54.962Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477761","source_sha256":"63ea2602f2a3cabc7eb263f5ca39832822415b616abada86ec74e3c570fdc5d8"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:e69c5181df12ae7e9ecbf9b54063737a7ab6b0f058218b1c590b5d71eb10ee5a","downloaded_from":"2026-09-10T00:04:54.962Z","last_downloaded_at":"2026-09-10T00:04:54.962Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477761","source_sha256":"63ea2602f2a3cabc7eb263f5ca39832822415b616abada86ec74e3c570fdc5d8"}},{"number":"25","label":"25 Recognition","anchor":"25-recognition","is_sec":false,"groups":[{"block":null,"heading":"Title Plant","paragraphs":[{"citation":"350-950-25-1","para":"25-1","html":"
Costs incurred to construct a title plant shall be capitalized. To qualify for capitalization, costs need to be directly related to, and properly identified with, the activities necessary to construct the title plant.
","snippet":"Costs incurred to construct a title plant shall be capitalized. To qualify for capitalization, costs need to be directly related to, and properly identified with, the activities necessary to construct the title plant.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:2f105f6884e3565c1d1a9084a7077233a53ad6b5787767ad0023da0e7f636e38","downloaded_from":"2026-09-10T00:05:01.119Z","last_downloaded_at":"2026-09-10T00:05:01.119Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477994","source_sha256":"baedc08437ad31b18f3997231319a94df7814c9be4b9a438db8e393f92e2731d"}},{"citation":"350-950-25-2","para":"25-2","html":"
A purchased title plant, including a purchased undivided interest in a title plant, shall be recorded at the date of acquisition. Costs to construct a backplant need to be identifiable to qualify for capitalization. Costs incurred to maintain a title plant and to do title searches shall be expensed as incurred.
","snippet":"A purchased title plant, including a purchased undivided interest in a title plant, shall be recorded at the date of acquisition. Costs to construct a backplant need to be identifiable to qualify for capitalization. Cost…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:9861dc6810885cb7416db7893609a6a32787eebd4d9d50bcc798e1dcf8971382","downloaded_from":"2026-09-10T00:05:01.119Z","last_downloaded_at":"2026-09-10T00:05:01.119Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477994","source_sha256":"baedc08437ad31b18f3997231319a94df7814c9be4b9a438db8e393f92e2731d"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:551d62747f03df111191a1c5013ad948bd8f219f958fe5a787023bf4996c5e67","downloaded_from":"2026-09-10T00:05:01.119Z","last_downloaded_at":"2026-09-10T00:05:01.119Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477994","source_sha256":"baedc08437ad31b18f3997231319a94df7814c9be4b9a438db8e393f92e2731d"}},{"block":null,"heading":"Storage and Retrieval","paragraphs":[{"citation":"350-950-25-3","para":"25-3","html":"
The following costs incurred after a title plant is operational shall not be capitalized as title plant:
  1. a
    Costs to convert the information from one storage and retrieval system to another
  2. b
    Costs to modify or modernize the storage and retrieval system.
","snippet":"The following costs incurred after a title plant is operational shall not be capitalized as title plant:\n(a) Costs to convert the information from one storage and retrieval system to another\n(b) Costs to modify or modern…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:7d56b7fd15d5c9c439aa279eb332e04e69706da5f762d317f215f9c066d0f3fb","downloaded_from":"2026-09-10T00:05:01.119Z","last_downloaded_at":"2026-09-10T00:05:01.119Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477994","source_sha256":"baedc08437ad31b18f3997231319a94df7814c9be4b9a438db8e393f92e2731d"}},{"citation":"350-950-25-4","para":"25-4","html":"
Those costs, however, may be capitalized separately.
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Title plant costs to be capitalized include the costs incurred to obtain, organize, and summarize historical information in an efficient and useful manner until the title plant can be used by the entity to do title searches.
","snippet":"Title plant costs to be capitalized include the costs incurred to obtain, organize, and summarize historical information in an efficient and useful manner until the title plant can be used by the entity to do title searc…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:3d92a85a8dc5bdc658662b857d01ce596c5421c85d1b6bce07c0ec2f42c6fb2b","downloaded_from":"2026-09-10T00:05:04.529Z","last_downloaded_at":"2026-09-10T00:05:04.529Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478146","source_sha256":"18b781a3e254969f0c0d78012515347e200ff4e280bcb4287b919e8451801b16"}},{"citation":"350-950-30-2","para":"30-2","html":"
A purchased title plant, including a purchased undivided interest in title plant, shall be recorded at cost. For a title plant acquired separately, cost shall be measured by the fair value of the consideration given.
","snippet":"A purchased title plant, including a purchased undivided interest in title plant, shall be recorded at cost. For a title plant acquired separately, cost shall be measured by the fair value of the consideration given.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:a7abb1c5d0c27aa047cd81c877c655bcb791f89cf445186ee877fc7946e5d95f","downloaded_from":"2026-09-10T00:05:04.529Z","last_downloaded_at":"2026-09-10T00:05:04.529Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478146","source_sha256":"18b781a3e254969f0c0d78012515347e200ff4e280bcb4287b919e8451801b16"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:4abf5d3295db118b80fd3514afd1ae6b6ab0e6fcf2d3f110a7c4ecc90efde866","downloaded_from":"2026-09-10T00:05:04.529Z","last_downloaded_at":"2026-09-10T00:05:04.529Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478146","source_sha256":"18b781a3e254969f0c0d78012515347e200ff4e280bcb4287b919e8451801b16"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:2d152926c54aaf66bd909010ca6d4315a1143e0fa3ee13dcfd62b667a477c160","downloaded_from":"2026-09-10T00:05:04.529Z","last_downloaded_at":"2026-09-10T00:05:04.529Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478146","source_sha256":"18b781a3e254969f0c0d78012515347e200ff4e280bcb4287b919e8451801b16"}},{"number":"35","label":"35 Subsequent Measurement","anchor":"35-subsequent-measurement","is_sec":false,"groups":[{"block":null,"heading":"Title Plant","paragraphs":[{"citation":"350-950-35-1","para":"35-1","html":"
Capitalized costs of a title plant shall not be depreciated or charged to income unless circumstances indicate that the carrying amount of the title plant has been impaired.
","snippet":"Capitalized costs of a title plant shall not be depreciated or charged to income unless circumstances indicate that the carrying amount of the title plant has been impaired.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:5554a06d2f7085d906ff266d800d65079743c03fbc8349d33130040f2b8142cf","downloaded_from":"2026-09-10T00:05:08.281Z","last_downloaded_at":"2026-09-10T00:05:08.281Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477971","source_sha256":"a575b882f9efadb54ace65791b5ecef02ec4638609c3a374df10c80d5d99b866"}},{"citation":"350-950-35-2","para":"35-2","html":"
The following circumstances may indicate that the carrying amount of title plant has been impaired:
  1. a
    Changes in legal requirements or statutory practices
  2. b
    Effects of obsolescence, demand, and other economic factors
  3. c
    Actions of competitors and others that may affect competitive advantages
  4. d
    Failure to maintain the title plant properly on a current basis
  5. e
    Abandonment of the title plant or other circumstances that indicate obsolescence.
","snippet":"The following circumstances may indicate that the carrying amount of title plant has been impaired:\n(a) Changes in legal requirements or statutory practices\n(b) Effects of obsolescence, demand, and other economic factors…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:13e73601b5cfbcb66b91280c69ff185e147c13a157244c5164e516e842bdf547","downloaded_from":"2026-09-10T00:05:08.281Z","last_downloaded_at":"2026-09-10T00:05:08.281Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477971","source_sha256":"a575b882f9efadb54ace65791b5ecef02ec4638609c3a374df10c80d5d99b866"}},{"citation":"350-950-35-3","para":"35-3","html":"
Those events or changes in circumstances, in addition to the examples in paragraph 360-10-35-21, indicate that the carrying amount of the capitalized costs may not be recoverable. Accordingly, the provisions of the Impairment or Disposal of Long-Lived Assets Subsections of Subtopic 360-10 apply.
","snippet":"Those events or changes in circumstances, in addition to the examples in paragraph 360-10-35-21, indicate that the carrying amount of the capitalized costs may not be recoverable. Accordingly, the provisions of the Impai…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:975c6b93ef7adca467b9758ed7d06c94d876137af022967a1022ba6978b8688b","downloaded_from":"2026-09-10T00:05:08.281Z","last_downloaded_at":"2026-09-10T00:05:08.281Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477971","source_sha256":"a575b882f9efadb54ace65791b5ecef02ec4638609c3a374df10c80d5d99b866"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:77825e3acc1249147220c682303a2cf76f93158cbdc16b351da79c812091c743","downloaded_from":"2026-09-10T00:05:08.281Z","last_downloaded_at":"2026-09-10T00:05:08.281Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477971","source_sha256":"a575b882f9efadb54ace65791b5ecef02ec4638609c3a374df10c80d5d99b866"}},{"block":null,"heading":"Storage and Retrieval","paragraphs":[{"citation":"350-950-35-4","para":"35-4","html":"
Capitalized storage and retrieval costs (addressed in paragraph 950-350-25-3) incurred after a title plant is operational shall be charged to expense in a systematic and rational manner.
","snippet":"Capitalized storage and retrieval costs (addressed in paragraph 950-350-25-3) incurred after a title plant is operational shall be charged to expense in a systematic and rational manner.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:bc66385ae6265029fec5484d77726826daea65b5f77fcb33b775a973c2dbe7b8","downloaded_from":"2026-09-10T00:05:08.281Z","last_downloaded_at":"2026-09-10T00:05:08.281Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477971","source_sha256":"a575b882f9efadb54ace65791b5ecef02ec4638609c3a374df10c80d5d99b866"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:7d542c3a0b2c6ce45eb771dc5a5e11c7139c2eb9a0e79e212cafb135adc2337d","downloaded_from":"2026-09-10T00:05:08.281Z","last_downloaded_at":"2026-09-10T00:05:08.281Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477971","source_sha256":"a575b882f9efadb54ace65791b5ecef02ec4638609c3a374df10c80d5d99b866"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:d80689d17ff0dc966b4a1fb5b491b8ea2c6714f7ea30d0a355987751b4fbf1ba","downloaded_from":"2026-09-10T00:05:08.281Z","last_downloaded_at":"2026-09-10T00:05:08.281Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477971","source_sha256":"a575b882f9efadb54ace65791b5ecef02ec4638609c3a374df10c80d5d99b866"}},{"number":"40","label":"40 Derecognition","anchor":"40-derecognition","is_sec":false,"groups":[{"block":null,"heading":null,"paragraphs":[{"citation":"350-950-40-1","para":"40-1","html":"
The sale of a title plant shall be reported separately as follows:
  1. a
    If an entity sells its title plant and relinquishes all rights to its future use, the reported gain or loss shall be recognized at the amount to which the entity is entitled in accordance with Subtopic 610-20 on the gains and losses from the derecognition of nonfinancial assets net of the adjusted cost of the title plant.
  2. b
    If an entity sells an undivided ownership interest in its title plant (that is, the right to its joint use), the reported gain or loss shall be the amount received net of a pro rata portion of the adjusted cost of the title plant.
  3. c
    If an entity sells a copy of its title plant or the right to use it, the recognized revenue, if in a contract with a customer, shall be accounted for in accordance with Topic 606 on revenue from contracts with customers. If the contract is not with a customer, the gain or loss shall be accounted for in accordance Subtopic 610-20. Ordinarily, no cost shall be allocated to the sale of a copy of or the right to use a title plant unless the value of the title plant decreases below its adjusted cost as a result of the sale (see paragraph 950-350-35-1).
","snippet":"The sale of a title plant shall be reported separately as follows:\n(a) If an entity sells its title plant and relinquishes all rights to its future use, the reported gain or loss shall be recognized at the amount to whic…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:c0240f23e1b3de73b36dce7f5f35152d9eb4ab55b43f94d45f23931b00356cb0","downloaded_from":"2026-09-10T00:05:10.067Z","last_downloaded_at":"2026-09-10T00:05:10.067Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477859","source_sha256":"50e0635b0fa612e61189dbc9ba016c184bcf4f8ed4cf105189c8b266d8bc9f83"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:95a79e410638b33ccb9c603a22e8304087f6b0caed072b93ffd512d863271b1c","downloaded_from":"2026-09-10T00:05:10.067Z","last_downloaded_at":"2026-09-10T00:05:10.067Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477859","source_sha256":"50e0635b0fa612e61189dbc9ba016c184bcf4f8ed4cf105189c8b266d8bc9f83"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:33653b616f75230849337ca4107612382d90a6732fd7154f3b951120769f202c","downloaded_from":"2026-09-10T00:05:10.067Z","last_downloaded_at":"2026-09-10T00:05:10.067Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477859","source_sha256":"50e0635b0fa612e61189dbc9ba016c184bcf4f8ed4cf105189c8b266d8bc9f83"}}],"enrichment":{"summary":"ASC 350-950 governs accounting for title plants — the indexed historical records of land ownership, encumbrances, maps, and prior title reports used by title insurers, abstract entities, and title agents. Costs directly identifiable with constructing a title plant (and purchased title plants, recorded at cost/fair value of consideration given) are capitalized, while maintenance and title search costs are expensed as incurred. Capitalized title plant is not amortized or depreciated; it is carried indefinitely unless impaired under the Impairment or Disposal of Long-Lived Assets Subsections of Subtopic 360-10.","key_points":["Costs incurred to construct a title plant are capitalized only if directly related to, and properly identified with, the construction activities (350-950-25-1); capitalizable costs are those to obtain, organize, and summarize historical information until the plant can be used for title searches (350-950-30-1).","A purchased title plant, including a purchased undivided interest, is recorded at cost at the date of acquisition, measured for a separate acquisition by the fair value of the consideration given (350-950-25-2; 350-950-30-2).","Costs to maintain a title plant (daily updating) and to perform title searches are expensed as incurred (350-950-25-2); backplant construction costs must be identifiable to be capitalized (350-950-25-2).","Costs incurred after the title plant is operational to convert information between storage and retrieval systems or to modify/modernize the system are not capitalized as title plant (350-950-25-3), but may be capitalized separately (350-950-25-4) and then charged to expense in a systematic and rational manner (350-950-35-4).","Capitalized title plant costs are not depreciated or charged to income unless circumstances indicate impairment (350-950-35-1); indicators include changes in legal requirements, obsolescence, competitor actions, failure to maintain the plant currently, and abandonment (350-950-35-2), with Subtopic 360-10 impairment provisions applying (350-950-35-3).","On sale with relinquishment of all rights to future use, gain or loss equals the amount to which the entity is entitled under Subtopic 610-20 net of the adjusted cost of the title plant (350-950-40-1(a)); sale of an undivided interest yields gain or loss of the amount received net of a pro rata portion of adjusted cost (350-950-40-1(b)).","Sale of a copy of the title plant or the right to use it is revenue under Topic 606 if with a customer (otherwise Subtopic 610-20), and ordinarily no cost is allocated unless the plant's value falls below its adjusted cost as a result of the sale (350-950-40-1(c))."],"categories":["Recognition","Initial measurement","Subsequent measurement","Impairment"],"audience_level":"intermediate","student_note":"Title plant is the classic example of a capitalized asset that is never amortized — the common mistake is assuming an intangible with a long life must be amortized; here the only write-down comes through ASC 360-10 impairment. Also distinguish construction costs (capitalize) from maintenance and title search costs (expense), and from post-operational storage/retrieval system costs (capitalize separately and expense systematically).","related_topics":["360-10","610-20","606","350-30","944"],"key_concepts":["title plant","backplant","capitalization of construction costs","title plant maintenance","title searches","no amortization","impairment indicators","undivided ownership interest"],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:bcdef0260694a19f220b2b8d06500b2e33150e5ff6f359a2eb55f6b95ed9a2c4","downloaded_from":"2026-09-10T00:04:47.698Z","last_downloaded_at":"2026-09-10T00:05:10.067Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}},"related":[{"number":"340-970","title":"Real Estate—General","topic_title":"Other Assets and Deferred Costs","score":0.6725,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:219ba658666ab94f39433e4b9a1de47aad26053ddeb5f106872e3fe4bc93cb80","downloaded_from":"2026-09-09T23:58:59.193Z","last_downloaded_at":"2026-09-09T23:59:17.895Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}},{"number":"360-905","title":"Agriculture","topic_title":"Property, Plant, and Equipment","score":0.6695,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:04b74df9ed54e9110255cc0c279f2c5db5a7c9c61c476d456996fff6e71f72ee","downloaded_from":"2026-09-10T00:07:07.550Z","last_downloaded_at":"2026-09-10T00:07:25.862Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}},{"number":"835-20","title":"Capitalization of Interest","topic_title":"Interest","score":0.6628,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:fe3a00da9c754237ad789b1ab721d92961fe59f14a209bc3788cbfd4305a85a5","downloaded_from":"2026-09-10T01:48:54.719Z","last_downloaded_at":"2026-09-10T01:49:28.506Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}},{"number":"360-932","title":"Extractive Activities—Oil and Gas","topic_title":"Property, Plant, and Equipment","score":0.6622,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:b173d518b3f3abf4ef95491f217c14ef38ef08308f06db00b0c62fd9d6a981ce","downloaded_from":"2026-09-10T00:08:46.669Z","last_downloaded_at":"2026-09-10T00:09:33.153Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}},{"number":"360-10","title":"Overall","topic_title":"Property, Plant, and Equipment","score":0.6599,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:c7a736861f136a26c2e308f6a16d3141e3d526ab4560332c1ef93df8f5e07d99","downloaded_from":"2026-09-10T00:05:35.818Z","last_downloaded_at":"2026-09-10T00:06:33.252Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}},{"number":"360-970","title":"Real Estate—General","topic_title":"Property, Plant, and 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