by b&m 1566
First off I'm not a lawyer so take what I say with a grain of salt, this is how I've interpreted abandonments and railbanking. Abandonment removes the railroad from common carrier obligations to the line in question. If the ROW is an easement, that easement disappears and the land is returned to the previous land owners. However, if the railroad owns the property out right, it stays with the railroad until they sell it. In this case I think the MEC owned the property and the state just purchased everything including the tracks. So, the Conway Scenic not being a common carrier can operate on the tracks but New Hampshire Central/VTR being a common carrier cannot.
Railbanking is something that the government concocted in 1983, to protect ROW easements after abandonment. It's led to many lawsuits over the years, but that another story. So long story short, ROW easements don't just disappear after abandonments anymore, there's a grace period where a 3rd party (typically a government body), will petition the STB to rail bank the ROW, which keeps the easement in place.
Railbanking is something that the government concocted in 1983, to protect ROW easements after abandonment. It's led to many lawsuits over the years, but that another story. So long story short, ROW easements don't just disappear after abandonments anymore, there's a grace period where a 3rd party (typically a government body), will petition the STB to rail bank the ROW, which keeps the easement in place.
It takes real skill to choke on air, fall up the stairs and trip over nothing. I have those skills.