Differences between personal property and real property
A reader asks:What is the difference between personal property and real property? Are items such as a chandelier or draperies included when purchasing a home?
Our reply:
Personal property is considered anything that is not permanently attached to the "real property" such as a free standing stove, refrigerator, furniture, potted plants, pictures, floor lamps, table lamps, wall to wall carpet, etc.
Real Property is not only the physical structure but also is property that is permanently attached such as a built in cooktop or range, built in refrigerator, shelves permanently attached to the wall, and all light fixtures that are attached to the property, area carpets.
If you are selling or buying a property and have a question about whether or not something is real property and is included in the purchase price, be sure to specify what you want in the contract. It cannot hurt to clearly state what you want included in the purchase price to avoid disputes later in the transaction.
- Janis Stone
posted by SFResidence.com @ 10:52 AM
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