Is that Even Real?
January 9, 2017
Today, we are going to talk about the types of property that we deal with in our business, real property and personal property. Each type has its own characteristics that are separate and distinct from each other. Real property is basically land. It is permanent, indestructible – you know, not going anywhere. Personal property, on the other hand, is just the opposite – impermanent, destructible and movable. It ranges all the way from those Mardi Gras beads your storing in the attic to steamboats and locomotives. In our business we have very little to do with personal property we generally deal with real property, but did you know in some states the courts hold a lease to be personal property? This is what is truly so difficult about what we do, the process of searching a title is relatively simple, it’s what you find and knowing what to do with it that make it a challenge. Remember what we talked about the other day, “we have to not only know the meaning of a term but understand how that term is applied in certain situations.” This is just another one of those examples.