Personal Property

News & Analysis as of

Traps for the Unwary – Transfers of Personal Property Without Delivery

Imagine... You’ve just completed a purchase of a friendly competitor’s overstocked inventory from the current season. She gave you a good price and will let you leave the goods at her warehouse for 30 days, just in...more

Personal Property Exemption Deadline Next Monday

The deadline to file for Michigan’s new Personal Property Tax Exemption is next Monday, February 10, 2014. In 2012, Gov. Snyder signed the law providing a personal property tax exemption to taxpayers who own equipment...more

A Domain Name is Property. A Domain Name is Not Property.

Business people are sometimes seen to roll their eyes when they ask their lawyer a straighforward question, and the lawyer pauses and replies “Well… it depends…” In our earlier post, we reviewed the Canadian decision...more

Don't Lose Your Priority in 2014 – Australian Transitional Perfection of Security Interests to Expire!

Many companies doing business in Australia have been caught unaware of an impending impactof the Personal Property Securities Act 2009 (Cth) (PPSA). In considering the effect of the PPSA on your business, it is critical that...more

Be Secure In Understanding Secured Interests

When a business borrows money, especially when it’s a new business, the lender wants to make sure it will be repaid even if the business fails. The lender often asks for additional security that it will be paid. Additional...more

New Amendments to UCC Article 9 Now Effective in Most Jurisdictions

On July 1, 2013, amendments to Article 9 of the Uniform Commercial Code, which governs using personal property as collateral, became effective in most jurisdictions. The changes to Article 9 a ect both existing and future...more

What is the value of your pet's life if negligently injured or killed? Under the law, amost nothing!

Most pet owners will tell you that the value of a pet animal is qualitatively different than non-animated property and they think they can recover for their pet’s pain and suffering and for their own emotional distress for an...more

Emergency Points if a Divorce is Impending: Financial Accounts and Personal Property

When you are contemplating a separation from your spouse, it is important to consider whether or not actions need to be taken to prevent dissipation of assets by your spouse prior to a final resolution of your case. You...more

PPSR: A Reminder to All Owners Not in Possession of Their Personal Property

In June 2013, the NSW Supreme Court in Maiden Civil (P&E) Pty Ltd; Richard Albarran and Blair Alexander Pleash as receivers and managers of Maiden Civil (P&E) Pty Ltd & Ors v Queensland Excavation Services Pty Ltd & Ors...more

Sutherland SALT Shaker: July 2013 Digest

In this issue: - Arizona: Software Licenses Determined to Be Personal Property Rentals - Rent-a-Cloud: Arizona’s Transaction Privilege Tax Applies to Receipts from the Temporary Use of Online Software -...more

Personal Property Securities Update - July 2013 (Australia)

PPS CASES START TO FLOW - This update highlights recent and upcoming developments relating to the Personal Properties Securities Act 2009 (Cth) ("PPSA"). We also examine some of the key issues dealt with by recent case...more

Negotiating Construction Equipment Leases; Getting Beyond the Battle of the Forms

A. THE PROBLEM: “I want it on the jobsite yesterday!” In buying out a construction project, a general contractor (GC) or a subcontractor will likely negotiate and enter into equipment leases that cost, on an...more

Rogers Towers: A Potential End-Around McNeal: Liens Partially Secured by Personal Property

When the time comes to collect a debt, few organizations are as accomplished as the Internal Revenue Service. The IRS showed just such guile in the case of In re Williams, a recent Chapter 7 proceeding in the Middle District...more

Lien Rights of Lenders and Landlords - Part II

In Part I of this blog post, we discussed the varied interests of the landlord and the tenant's lender in the tenant’s personal property located at the premises in the context of a commercial lease. Part II below will...more

The Top Ten Points To Watch For In Commercial Real Estate Contracts: Point #3 – What’s the property and how good is its title?

What’s the property and how good is its title? Today’s topic can be reduced to a very simple question: as a real estate purchaser/investor, how do I get all of the property I’m paying for, with no unpleasant investment...more

Assessment Appeals Commission Holds that Personal Property is Valued at Capitalized Cost

The Assessment Appeals Commission (“AAC”) of the Tennessee State Board of Equalization has reversed a 2011 administrative law judge decision, holding that intangible costs (such as freight, installation, engineering costs and...more

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