Personal Property

News & Analysis as of

Friends and Family and Criminal Forfeiture

One of the many potential consequences of a criminal conviction is that the government may seize assets held by the defendant’s family to satisfy a criminal forfeiture order against the defendant himself. In United States v....more

Best in Law: How Courts Sort Out Property Rights in Tough Bankruptcy Cases

A Chapter 7 bankruptcy liquidation proceeding, in its simplest form, is straightforward. When a person or company is unable to pay its debts, a bankruptcy trustee is appointed. The debtor’s property becomes a bankruptcy...more

Circulating security interests and competing priorities

The recent Federal Court decision (on 1 March 2017) in Langdon, in the matter of Forge Group Limited (Receivers and Managers Appointed) (in Liq) [2017] FCA 170 considered the situation where a sizeable, unexpected tax refund...more

How To Protect Yourself Before A Divorce

As a divorce lawyer, I have met with countless clients who claim they were blindsided by a divorce. While they may have seen signs that something was wrong in the marriage, they chose to ignore them hoping that things would...more

Give Me the Ring Back! Written Promises Around Engagements

On Valentine’s Day, Zack takes Kelly, his high school sweetheart who goes to a different college, to the Max for a romantic dinner. At the end of the meal Zack says, “Kelly, I want us to promise each other that after college...more

The Alchemist’s Guide to Post-Judgment Collections

In the hectic world of North Carolina civil litigation, the focused practitioner understandably may lose sight of the forest for the individual trees. Analyzing thousands of pages of poorly-copied document production for that...more

Michigan’s new exemption for manufacturing personal property -- Claims are due February 21 this year.

For purposes of Michigan property taxes, qualified manufacturing personal property (as defined by MCL 211.9m and 211.9n) located on occupied real property is exempt from ad valorem taxation and, rather, is subject to a much...more

Michigan’s 2017 property tax assessment notices are in the mail. Should you appeal?

Local assessors are in the process of sending annual notices of real and personal property tax assessments to property owners/taxpayers, who must determine whether the assessments are correct and whether an appeal should be...more

Michigan Tax News - January 2017

Michigan’s 2017 property tax assessment notices are in the mail. Should you appeal? Local assessors are in the process of sending annual notices of real and personal property tax assessments to property owners/taxpayers,...more

Massachusetts Governor Charlie Baker May Propose Unconstitutional Sales Tax Collection Responsibility on Remote Sellers

BOSTON – January 27, 2017. In an attempt to balance his $40.5 billion budget, Governor Charlie Baker may propose that remote sellers be required to collect Massachusetts sales taxes on sales of tangible personal property made...more

Illinois Supreme Court Holds City of Chicago Went Too Far in Taxing Cars Rented Outside Its Borders

The Illinois Supreme Court, in Hertz Corp v. City of Chicago, 2017 IL 119945 (Jan. 20, 2017) , held that the City of Chicago’s ruling requiring rental car companies located within three miles of the City to collect tax on...more

Top Four Estate Disputes from 2016

With the end of 2016 upon us, now is a fitting time to look back at some of the top estate disputes from this past year. 2016 was a typical year in that, unsurprisingly, people continued to die and families continued to fight...more

SC Court of Appeals Curbs Personal Representative Fee - Appeal arose from administration of an estate

The South Carolina Court of Appeals recently handed down the decision of In Re: Estate of Marion M. Kay, Op. No. 5414 (S.C.Ct.App. Withdrawn, Substituted and Refiled Nov. 2, 2016) (Shearouse Adv.Sh. No. 42 at 28). In Kay,...more

Insuring Fine Art: The Visual Artists Rights Act and Its Bad Faith Implications

Insuring fine art can present challenges that are not encountered with other types of property. One of these challenges involves the application of the Visual Artists Rights Act of 1990 (17 U.S.C. §106A) (“VARA”) when artwork...more

The Lease of Your Worries: Preserving the Priority of a Lessor’s Interest in an Asset

Unless a long-term lease of an asset is registered in the Personal Property Registry (PPR), the leasing arrangement may fail to protect the priority of the lessor’s ownership interest. The Alberta Court of Appeal in Fast...more

Do It Yourself Wills: Will They Lead to More Litigation?

Here’s my prediction: do it yourself wills, also referred to as “homemade wills” or “online wills” or “internet wills” (I’ll refer to them in this blog post as “DIY Wills”) will result in a significant (though not massive)...more

Sixth Circuit Lifts the Lid On Pre-Approved Filings Under Seal

Any thought that the Sixth Circuit’s June decision regarding filings under seal in Shane Group, Inc. v. BlueCross Blue Shield of Michigan, 825 F.3d 299 (6th Cir. 2016), might be narrowly construed based upon the nature of the...more

When is a company regularly engaged in the business of leasing goods?

The recent decision by the New South Wales Supreme Court in Forge Group Power Pty Ltd (in liquidation)(receivers and managers appointed) v General Electric International Inc [2016] NSWCA 52 provides useful guidance for...more

Making Sense of the Peter Doig Trial and the Authentication Fallout

As was reported in detail by the New York Times and others earlier this week, artist Peter Doig prevailed in what most agree was the strangest art related trial in many years. In a nutshell, Doig was accused by a former...more

Are Condominium Unit Owners Required to Carry Insurance?

Generally speaking, condominium associations have the legal obligation to maintain insurance on all of the condominium improvements, with some exceptions. Chapter 718 of the Florida Statutes (the “Condominium Act”),...more

I Swear It’s Not Mine – Artist Sued for Denying He Created Art Piece

Artist Peter Doig, whose pieces regularly sell for $10 million, is currently entangled in a rare and rather odd lawsuit, which involves a work Doig denies he created. While disputes of the authenticity of pieces of artwork...more

Pennsylvania Tax Developments - A Reed Smith Quarterly Update

Is Pennsylvania bringing back its tax on “computer-related services”? Pennsylvania’s new “Netflix” tax (enacted as part of Act 84 of 2016) covers more than just digital downloads and streaming services. Effective August 1,...more

Missouri Commercial Receivership Act Creates a New Statutory Scheme Which Presents a More Robust Remedy

The Missouri Commercial Receivership Act (MCRA), passed by the Missouri legislature and just signed into law by Governor Nixon, becomes effective Aug. 28, 2016. It expands, clarifies and fleshes out the existing minimal...more

Still Haven’t Prepared a Will? You Could be Leaving A Mess for your Spouse/Partner

Statistics show that more than 50% of Americans die without having a Last Will and Testament. People tend to put off this important planning because they are either procrastinators (“I’ll worry about it later!”) or...more

Sales Tax Exemption for Manufacturing Held Inapplicable for Oil and Gas Equipment, but Questions Remain

Southwest Royalties, Inc. v. Hegar, No. 14-0743 (Tex. June 17, 2016)(“Southwest”), addresses the applicability of a sales tax exemption for property sold for use in manufacturing in the context of oil and gas production....more

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