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Real Property vs. Personal Property


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duty of care

Duty of Care – Keeping Employees Safe in High Risk Locations

19 April 2018 / By Nick Royle / Business  / Business Travel Tracking  / export  / Global Mobility Management  / Global Talent Mobility  / HR  / International Assignment  / Relocation  / 

Duty of Care – Keeping their global business travelers and assignees safe has become much harder for companies than it…

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restrictive covenant

Should Companies Include Restrictions in Assignee Contracts?

9 April 2018 / By Nick Royle / Business  / Global Mobility Management  / Global Talent Mobility  / HR  / 

Anytime a company sends an employee on assignment, there are multiple issues to consider, although some tend to be overlooked.…

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MSI wins 1st place for Quality of Service in HRO Today Magazine’s 2018 Baker’s Dozen: Relocation Ranking

March 25th 2018 – MSI Global Talent Solutions, a human capital advisory firm that enables companies to improve, grow, and…

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Move for Hunger

MSI Global Talent Solutions and Move for Hunger Announce Collaborative Effort to Help Feed Families in Need

Hampton, NH February 12th 2018 – MSI Global Talent Solutions, a professional services organization dedicated to helping companies create human…

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Keeping Employees Safe in High Risk Locations

Keeping their global business travelers and assignees safe when visiting high-risk travel locations has become much harder for companies than…

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Real Property vs. Personal Property

Your home is your castle and you invest a lot of time and money into decorating it to your personal satisfaction. Now you’re getting ready to move and you will need to determine what is being sold with the home, or if some of the personal effects that you bought to decorate the home is personal or real property, now part of the real estate.

Real Property is defined as “property consisting of land, buildings, crops, or other resources still attached to or within the land or improvements or fixtures permanently attached to the land or a structure on it; also : an interest, benefit, right, or privilege in such property called also immovable property – http://dictionary.findlaw.com/definition/property.”. Once you attach something to the property and it cannot be removed without making a hole or disrupt the integrity of the property, you can safely be assured it is no longer personal property, but real property.

For Example:

Chandeliers or light fixtures that are attached to the ceiling/walls

Curtain Rods

Speakers for surround sound or brackets to hang a TV

To be clear with the realtors and buyers, you need to be specific as to what is staying with the property.

Avoid statements on the listing agreement or purchase and sale like:

All appliances

All Window Treatments

Per listing agreement

There may be some items that are considered Real Property that you may want to bring to the new home.  The best solution is to remove/replace items prior to listing the property. There should be no wires exposed or holes left unfilled. If you choose to wait to remove/replace the items, it should be understood and agreed by all parties what will take the place of the items you are taking or what is expected on how that area will be viewed once removed.

Do not rely on what a standard contract specifies as personal property.  Read the listing contract as well as the purchase agreement and specify all items that will be left with the property and list anything you are replacing.  This should eliminate any confusion at the closing as to what “window treatments or appliances” were to be part of the transfer of title.  This will avoid a delay in closing as well as you as the seller buying a new washer and dryer for the buyers since they understood all appliances included your new front load washer and dryer. Everyone reads things differently which results in various interpretations, so being specific will avoid any misinterpretation.

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