This form is a contract for the lease of personal property. The lessor demises and leases to the lessee and the lessee takes and rents from the lessor certain personal property described in Exhibit "A".
Personal Property For Sale In Texas
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"Personal property" in Texas refers to items that a person owns. These things can be tangible—like a vehicle or household furniture—or intangible, like intellectual property. Personal property is not attached to real property and can be moved.
Section 72.101 - Personal Property Presumed Abandoned (a) Except as provided by this section and Sections 72.1015, 72.1016, 72.1017, 72.102, and 72.104, personal property is presumed abandoned if, for longer than three years: (1) the location of the owner of the property is unknown to the holder of the property; and (2 ...
For taxation purposes, there are two basic types of property: real property (land, buildings, and other items attached to land) and personal property (property that can be owned and is not permanently attached to the land or building such as inventory, furniture, fixtures, equipment and machinery).
Lost property belongs to whomever finds it, subject only to a claim by the true owner. Mislaid property belongs to the owner of the property on which it is found, subject only to a claim by the true owner. Embedded property belongs to the owner of the property on which it is found.
Texas law describes when certain forms of personal property are "presumed abandoned." "Personal property" can include things like bank accounts, gift cards, utility deposits, paychecks, safe deposit boxes, and more.
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.
Life Estates in Real Property A life estate cannot be created in personal property. A life estate is a unique form of ownership whereby the owner of the real property (the estate planner) conveys title to another person, but retains a life estate." See also How to Minimize the Need for Probate in Texas.
Private property may only be taken by a governmental entity or private entity that is authorized by law to do so. Your property may be taken only for a public purpose. That means it can only be taken for a purpose or use that serves the general public.
The State of Texas has jurisdiction to tax personal property if the property is: Located in the state for longer than a temporary period. Temporarily located outside the state and the owner resides in this state. Used continually, whether regularly or irregularly in the state.