Personal Property Foreclosure In Fairfax

Category:
State:
Multi-State
County:
Fairfax
Control #:
US-00123
Format:
Word; 
Rich Text
Instant download

Description

The Contract for the Lease of Personal Property is designed for use in situations involving personal property foreclosure in Fairfax. This agreement outlines the essential elements of leasing personal property, including terms, responsibilities for repairs, and the relationship between lessor and lessee. Key features include stipulations on repair responsibilities, indemnity clauses, and provisions for assigning or subletting the property. Specific instructions guide users through filling in necessary information, such as the names of the parties and property descriptions. The form is particularly useful for attorneys, partners, and legal professionals who navigate personal property agreements, as it ensures clear definitions of responsibilities and legal obligations. Paralegals and legal assistants can utilize this document to facilitate transactions and ensure appropriate compliance during the leasing process. This form can help prevent misunderstandings between involved parties, making it an essential resource in legal practices related to personal property leasing and foreclosure.
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FAQ

What Is Personal Property? Personal property is a class of property that can include any asset other than real estate. The distinguishing factor between personal property and real estate, or real property, is that personal property is movable, meaning it isn't fixed permanently to one particular location.

In California, the previous owner has a time window of 60 days post-foreclosure sale to clear their belongings from the property. If this timeline elapses without the removal of their belongings, the new owner has the right to dispose of them as they see fit.

The owner has a distributive right to exclude others (i.e. the right to command a "fair share" of personal property). In anarchist theory, private property typically refers to capital or the means of production, while personal property refers to consumer and non-capital goods and services.

What is considered individual personal property? Virginia State Code Section § 58.1-3503 defines personal property as automobiles, trucks, manufactured homes, motorcycles, recreational vehicles, boats, trailers, and aircraft.

§ 58.1-3500. Tangible personal property shall consist of all personal property not otherwise classified by (i) § 58.1-1100 as intangible personal property, (ii) § 58.1-3510 as merchants' capital, or (iii) § 58.1-3510.4 as short-term rental property.

These may include personally-owned cars, homes, appliances, apparel, food items, and so on. Personal use property can be insured against theft in most homeowners policies, but may require additional riders or carry limitations.

Is there a real estate tax exemption for seniors and people with disabilities? Yes, Fairfax County provides real estate tax exemption to residents who are either 65 years of age or older or permanently and totally disabled and meet the income and asset eligibility requirements.

Send us an email (see links below) or call us at 703-222-8234 (TTY 711) weekdays from 8AM to PM. We are open for walk-in traffic weekdays 8AM to PM.

Under Virginia State Law, these real estate assessment records are public information. Display of this property information on the internet is specifically authorized by the Code of Virginia §58.1-3122.2 (as amended).

You need the Virginia State's Division of Motor Vehicles website. How can I obtain information about personal property taxes? You can call the Personal Property Tax Division at (804) 501-4263 or visit the Department of Finance website .

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Personal Property Foreclosure In Fairfax