Personal Property

Personal Property, also called “movable property,” “personalty,” “movables,” or “chattels,” include virtually any form of property other than real estate. Some examples of personal property include cars, jewelry, and small businesses. Personal property is movable property and goods, as distinguished from real property, which is fixed and immovable. Moreover, real property must often be transferred by a written contract, and the associated deed is often recorded. Click here for information on the Uniform Commercial Code Article 2A (UCC) and how it relates to personal property leasing, and ways your state's lemon laws can help you. Read more about these and other subjects under Business Operations.

Personal Property Articles
    • An Ounce of Prevention! Tips to Avoid Litigation
      Small business owners all seem to have one common fear: the fear of being drawn into a costly and time consuming legal battle. For the business owner in particular there are many relationships where lawsuits may arise, from the petulant customer or ...

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    • Truth in Leasing for Commercial Trucking Companies and Truck Owners
      Article provided by Schneider & Onofry. Please visit our Web site at www.soarizonalaw.com.  For both commercial trucking companies and truck owners leasing their vehicles and services, it is important to know the legal basics of ...

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    • Pre-Funding Woes
      Clients have reported increasing pressure from vendors to pre-fund transactions. In some instances, this constitutes a requirement by the vendor that transactions be funded when equipment is shipped, rather than when it is accepted. In other cases ...

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    • New Law Requires Park Owners to Make Disclosures to Prospective Tenants
      On September 27, 1999, Governor Gray Davis signed Senate Bill 534. This new law becomes effective January 1, 2000. It requires lengthy and detailed disclosures about a manufactured home community and its infrastructure every time a manufactured home ...

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    • Look Before You Lease: Upgrade Rights
      A reader has asked us to go over upgrade rights, one of the most difficult provisions for lessees to negotiate. For years, lessees of various types of equipment, especially computer and other high technology equipment, have requested that each of ...

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    • Lease Stipulated Loss Values: What You Owe if You Wreck the Lessor's Equipment Under Lease
      In the July, 1997 issue of the Lessee Letter, I discussed lease termination values. That article provides a useful platform from which to develop a presentation of stipulated loss values (also known as casualty values). The reader may recall that ...

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    • Florida Documentary Stamp Taxes
      Under proposed regulations issued by the Florida Department of Revenue, Florida documentary stamp taxes will NOT be payable on true leases OR direct finance leases ($1-Out leases) under which equipment is delivered to a Florida lessee WHETHER OR NOT ...

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    • Form Leases and Specific Equipment
      Small ticket and middle market Lessors come to rely on form lease documents. In most cases, these friendly and familiar forms are drafted to cover a wide variety of equipment. Problems arise when Lessors step out of their familiar niche and into ...

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    • Liquidated Damages/Foreclosure Sale
      Costal Leasing Corporation v. T-Bar S Corporation, 128 N.C. App. 379 496 S. E. 2d 795 (1998). LIQUIDATED DAMAGES/FORECLOSURE SALE. The North Carolina court upheld the liquidated damages clause under pre-UCC Article 2A law but reached the unusual ...

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    • Limitations on Medicaid Liens in Personal Injury Recoveries
      As with other Medicaid payors, the Oregon Department of Human Services (ODHS) is compelled by state law to seek reimbursement out of personal injury recoveries for paid Medicaid benefits.  The lien rights of such state agencies are not without ...

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