You acquire land when you start having an estate or interest in it. This can be alone or with someone else. You are treated as having the land from the date you start having an estate or interest in it. When a company is being formed, it is treated as existing from the date someone enters an agreement for the company to have land. This is for the purposes of this subpart in relation to the land. The company is treated as having the land from the date the agreement is entered. If you have an option to acquire land and you exercise it, you are treated as acquiring the land at the time you exercise the option. This means you are considered to have the land from the date you exercise the option. Other rules may apply if they are in subpart FB or FC, which are about transfers of property. These other rules can override the rules about when you acquire land. They can change the timing of when you are considered to have acquired the land. This is important for understanding when you have land for tax purposes.