Personal Property Statement With Example In Phoenix

Category:

Leases - Contracts

State:

Multi-State

City:

Phoenix

Control #:

US-00123

Format:

Instant download

Description

The Personal Property Statement is a critical form for documenting the lease of personal property in Phoenix. This agreement outlines the terms under which a lessor (owner) rents out specific personal property to a lessee (tenant), detailing aspects such as lease duration, maintenance responsibilities, and legal liabilities. The form includes a section for exhibiting the leased property and establishes that repairs are the lessee's responsibility, with provisions for indemnity and notifications between parties. For attorneys, paralegals, and legal assistants, this form serves as an essential tool in ensuring compliance with pertinent leasing laws and mediating potential disputes. Legal professionals can use this statement to protect their clients’ interests and clarify relationships between lessors and lessees. Properly filling out this form involves specifying the parties’ details, the effective term, and any additional conditions, which can be edited to tailor it to specific situations. This template is especially useful for partners and owners in real estate or personal property leasing businesses. Overall, the Personal Property Statement facilitates transparent agreements and minimizes legal conflicts between renting parties.

Agreement for rent

View this form

Jury Instruction - Preliminary Instruction...

View this form

Contribution and Assumption Agreement - di...

View this form

Ratification of Memorandum of Operating Ag...

View this form

Certificate of Mailing Application For Wit...

View this form

Certification for Board Resolution

View this form

Agreement with Consultant to Implement Fun...

View this form

Assignment of Portion for Specific Amount ...

View this form

Telephone Call Log Form

View this form

Assignment of Contract with Covenant of As...

View this form

Form popularity

FAQ

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.

Personal Property Personal belongings such as clothing and jewelry. Household items such as furniture, some appliances, and artwork. Vehicles such as cars, trucks, and boats. Bank accounts and investments such as stocks, bonds, and insurance policies.

Personal-use property is not purchased with the primary intent of making a profit, nor do you use it for business or rental purposes.

Personal use property is used for personal enjoyment as opposed to business or investment purposes. These may include personally-owned cars, homes, appliances, apparel, food items, and so on.

Under A.R.S. 42-13301 the LPV is the limited property value of the property in the preceding valuation year plus five percent of that value.

Where to Report Personal Property on Your Taxes. Claim the itemized deduction on Schedule A – State and local personal property taxes (Line 5c). Taxes you deduct elsewhere on your return — like for a home office or rental — don't qualify for this deduction.

For property tax purposes in Arizona, personal property is defined as all types of property except real estate. Taxable personal property includes property used for commercial, industrial, and agricultural purposes. Personal property is considered to be movable and not permanently attached to real estate.

Assessor. The value of this property is then assessed for tax purposes Additionally vehicles areMoreAssessor. The value of this property is then assessed for tax purposes Additionally vehicles are subject to vehicle license taxes instead of a personal property.

This exemption amount is determined annually by the Arizona Department of Revenue per A.R.S. § 42-11127(C). Note: the Statutory Exemption is $248,691 in 2024.