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TANGIBLE PROPERTY TAX RETURN (REVENUE FORMS 62A500, 62A500-A, 62A500-C, 62A500-L and 62A500-W)
INSTRUCTIONS TANGIBLE PROPERTY TAX RETURN (REVENUE FORMS 62A500, 62A500-A, 62A500-C, 62A500-L and 62A500-W) Classification of Property—Real property includes all lands within Definitions and General Instructions this state and improvements thereon. Intangible property consists of any property or investment that represents evidence of value or The tangible personal property tax return includes instructions to the right to value under law or customs. Tangible personal property assist taxpayers in preparing Revenue Forms 62A500, 62A500-A is every physical item subject to ownership, except real and intan- and 62A500-W. These instructions do not supersede the Kentucky gible property. Constitution or applicable Kentucky Revised Statutes. Depreciable Assets—List depreciable assets on the appropriate Taxpayer—All individuals and business entities who own, lease schedule(s) at original cost. Apply appropriate factor(s) to obtain or have a beneficial interest in taxable tangible property located reported value. Do not use book depreciation for computing the within Kentucky on January 1 must file a tangible property tax fair cash value of depreciable assets. Do not include noncommer- return. All tangible property is taxable, except the following: cial aircraft, documented boats, non-Kentucky registered watercraft and assets used in farming. See line-by-line instructions for details. personal household goods used in the home; crops grown in the year which the assessment is made and in the Lessors and Lessees of Tangible Personal Property—Leased hands of the producer; property must be listed by the owner on Revenue Form 62A500, tangible personal property owned by institutions exempted under regardless of the lease agreement’s terms regarding tax liability. -
The Real Estate Marketplace Glossary: How to Talk the Talk
Federal Trade Commission ftc.gov The Real Estate Marketplace Glossary: How to Talk the Talk Buying a home can be exciting. It also can be somewhat daunting, even if you’ve done it before. You will deal with mortgage options, credit reports, loan applications, contracts, points, appraisals, change orders, inspections, warranties, walk-throughs, settlement sheets, escrow accounts, recording fees, insurance, taxes...the list goes on. No doubt you will hear and see words and terms you’ve never heard before. Just what do they all mean? The Federal Trade Commission, the agency that promotes competition and protects consumers, has prepared this glossary to help you better understand the terms commonly used in the real estate and mortgage marketplace. A Annual Percentage Rate (APR): The cost of Appraisal: A professional analysis used a loan or other financing as an annual rate. to estimate the value of the property. This The APR includes the interest rate, points, includes examples of sales of similar prop- broker fees and certain other credit charges erties. a borrower is required to pay. Appraiser: A professional who conducts an Annuity: An amount paid yearly or at other analysis of the property, including examples regular intervals, often at a guaranteed of sales of similar properties in order to de- minimum amount. Also, a type of insurance velop an estimate of the value of the prop- policy in which the policy holder makes erty. The analysis is called an “appraisal.” payments for a fixed period or until a stated age, and then receives annuity payments Appreciation: An increase in the market from the insurance company. -
What Is So Special About Intangible Property? the Case for Intelligent Carryovers Richard A
University of Chicago Law School Chicago Unbound Coase-Sandor Working Paper Series in Law and Coase-Sandor Institute for Law and Economics Economics 2010 What Is So Special about Intangible Property? The Case for intelligent Carryovers Richard A. Epstein Follow this and additional works at: https://chicagounbound.uchicago.edu/law_and_economics Part of the Law Commons Recommended Citation Richard A. Epstein, "What Is So Special about Intangible Property? The asC e for intelligent Carryovers" (John M. Olin Program in Law and Economics Working Paper No. 524, 2010). This Working Paper is brought to you for free and open access by the Coase-Sandor Institute for Law and Economics at Chicago Unbound. It has been accepted for inclusion in Coase-Sandor Working Paper Series in Law and Economics by an authorized administrator of Chicago Unbound. For more information, please contact [email protected]. CHICAGO JOHN M. OLIN LAW & ECONOMICS WORKING PAPER NO. 524 (2D SERIES) What Is So Special about Intangible Property? The Case for Intelligent Carryovers Richard A. Epstein THE LAW SCHOOL THE UNIVERSITY OF CHICAGO August 2010 This paper can be downloaded without charge at: The Chicago Working Paper Series Index: http://www.law.uchicago.edu/Lawecon/index.html and at the Social Science Research Network Electronic Paper Collection. WHAT IS SO SPECIAL ABOUT INTANGIBLE PROPERTY? THE CASE FOR INTELLIGENT CARRYOVERS by Richard A. Epstein* ABSTRACT One of the major controversies in modern intellectual property law is the extent to which property rights conceptions, developed in connection with land or other forms of tangible property, can be carried over to different forms of property, such as rights in the spectrum or in patents and copyrights. -
Guidance Note
Guidance note The Crown Estate – Escheat All general enquiries regarding escheat should be Burges Salmon LLP represents The Crown Estate in relation addressed in the first instance to property which may be subject to escheat to the Crown by email to escheat.queries@ under common law. This note is a brief explanation of this burges-salmon.com or by complex and arcane aspect of our legal system intended post to Escheats, Burges for the guidance of persons who may be affected by or Salmon LLP, One Glass Wharf, interested in such property. It is not a complete exposition Bristol BS2 0ZX. of the law nor a substitute for legal advice. Basic principles English land law has, since feudal times, vested in the joint tenants upon a trust determine the bankrupt’s interest and been based on a system of tenure. A of land. the trustee’s obligations and liabilities freeholder is not an absolute owner but • Freehold property held subject to a trust. with effect from the date of disclaimer. a“tenant in fee simple” holding, in most The property may then become subject Properties which may be subject to escheat cases, directly from the Sovereign, as lord to escheat. within England, Wales and Northern Ireland paramount of all the land in the realm. fall to be dealt with by Burges Salmon LLP • Disclaimer by liquidator Whenever a “tenancy in fee simple”comes on behalf of The Crown Estate, except for In the case of a company which is being to an end, for whatever reason, the land in properties within the County of Cornwall wound up in England and Wales, the liquidator may, by giving the prescribed question may become subject to escheat or the County Palatine of Lancaster. -
Imagereal Capture
Some Aspects of Theft of Computer Software by M. Dunning I. INTRODUCTION The purpose of this paper is to test the capability of New Zealand law to adequately deal with the impact that computers have on current notions of crimes relating to property. Has the criminal law kept pace with technology and continued to protect property interests or is our law flexible enough to be applied to new situations anyway? The increase of the moneyless society may mean a decrease in money motivated crimes of violence such as robbery, and an increase in white collar crime. Every aspect of life is being computerised-even our per sonality is on character files, with the attendant )ossibility of criminal breach of privacy. The problems confronted in this area are mostly definitional. While it may be easy to recognise morally opprobrious conduct, the object of such conduct may not be so easily categorised as criminal. A factor of this is a general lack of understanding of the computer process, so this would seem an appropriate place to begin the inquiry. II. THE COMPUTER Whiteside I identifies five key elements in a computer system. (1) Translation of data into a form readable by the computer, called input; and subject to manipulation by the introduction of false data. Remote terminals can be situated anywhere outside the cen tral processing unit (CPU), connected by (usually) telephone wires over which data may be transmitted, e.g. New Zealand banks on line to Databank. Outside users are given a site code number (identifying them) and an access code number (enabling entry to the CPU) which "plug" their remote terminal in. -
A Sui Generis Regime for Traditional Knowledge: the Ulturc Al Divide in Intellectual Property Law J
Marquette Intellectual Property Law Review Volume 15 | Issue 1 Article 3 Emerging Scholars Series: A Sui Generis Regime for Traditional Knowledge: The ulturC al Divide in Intellectual Property Law J. Janewa OseiTutu University of Pittsburgh School of Law Follow this and additional works at: http://scholarship.law.marquette.edu/iplr Part of the Intellectual Property Commons Repository Citation J. Janewa OseiTutu, Emerging Scholars Series: A Sui Generis Regime for Traditional Knowledge: The Cultural Divide in Intellectual Property Law, 15 Intellectual Property L. Rev. 147 (2011). Available at: http://scholarship.law.marquette.edu/iplr/vol15/iss1/3 This Article is brought to you for free and open access by the Journals at Marquette Law Scholarly Commons. It has been accepted for inclusion in Marquette Intellectual Property Law Review by an authorized administrator of Marquette Law Scholarly Commons. For more information, please contact [email protected]. EMERGING SCHOLARS SERIES* A SUI GENERIS REGIME FOR TRADITIONAL KNOWLEDGE: THE CULTURAL DIVIDE IN INTELLECTUAL PROPERTY LAW J. JANEWA OSEITUTU** ABSTRACT .................................................................................................... 149 INTRODUCTION ........................................................................................... 150 I. THE TRADITIONAL KNOWLEDGE QUESTION ..................................... 158 A. The Backlash against TRIPS ...................................................... 158 B. What Is Traditional Knowledge? ............................................... -
Bundle of S Cks—Real Property Rights and Title Insurance Coverage
Bundle of Scks—Real Property Rights and Title Insurance Coverage Marc Israel, Esq. What Does Title Insurance “Insure”? • Title is Vested in Named Insured • Title is Free of Liens and Encumbrances • Title is Marketable • Full Legal Use and Access to Property Real Property Defined All land, structures, fixtures, anything growing on the land, and all interests in the property, which may include the right to future ownership (remainder), right to occupy for a period of +me (tenancy or life estate), the right to build up (airspace) and drill down (minerals), the right to get the property back (reversion), or an easement across another's property.” Bundle of Scks—Start with Fee Simple Absolute • Fee Simple Absolute • The Greatest Possible Rights Insured by ALTA 2006 Policy • “The greatest possible estate in land, wherein the owner has the right to use it, exclusively possess it, improve it, dispose of it by deed or will, and take its fruits.” Fee Simple—Lots of Rights • Includes Right to: • Occupy (ALTA 2006) • Use (ALTA 2006) • Lease (Schedule B-Rights of Tenants) • Mortgage (Schedule B-Mortgage) • Subdivide (Subject to Zoning—Insurable in Certain States) • Create a Covenant Running with the Land (Schedule B) • Dispose Life Estate S+ck • Life Estate to Person to Occupy for His Life+me • Life Estate can be Conveyed but Only for the Original Grantee’s Lifeme • Remainderman—Defined in Deed • Right of Reversion—Defined in Deed S+cks Above, On and Below the Ground • Subsurface Rights • Drilling, Removing Minerals • Grazing Rights • Air Rights (Not Development Rights—TDRs) • Canlever Over a Property • Subject to FAA Rules NYC Air Rights –Actually Development Rights • Development Rights are not Real Property • Purely Statutory Rights • Transferrable Development Rights (TDRs) Under the NYC Zoning Resoluon and Department of Buildings Rules • Not Insurable as They are Not Real Property Title Insurance on NYC “Air Rights” • Easement is an Insurable Real Property Interest • Easement for Light and Air Gives the Owner of the Merged Lots Ability to Insure. -
Common Ways to Hold Title
Common Ways to Hold Title HOW YOU TAKE TITLE - ADVANTAGES AND LIMITATIONS: Title to real property may be held by individuals, either in Sole Ownership or in Co-Ownership. Co-Ownership of real property occurs when title is held by two or more persons. There are several variations as to how title may be held in each type of ownership. The following brief summaries reference seven of the more common examples of Sole Ownership and Co-Ownership. SOLE OWNERSHIP A man or woman who is not married. Example: John Doe, a single man. An Unmarried Man/Woman: A man or woman, who having been married, is legally divorced. Example: John Doe, an unmarried man. A Married Man/Woman, as His/Her Sole and Separate Property: When a married man or woman wishes to acquire title as their sole and separate property, the spouse must consent and relinquish all right, title and interest in the property by deed or other written agreement. Example: John Doe, a married man, as his sole and separate property. CO-OWNERSHIP Community Property: Property acquired by husband and wife, or either during marriage, other than by gift, bequest, devise, descent or as the separate property of either is presumed community property. Example: John Doe and Mary Doe, husband and wife, as community property. Example: John Doe and Mary Doe, husband and wife. Example: John Doe, a married man Joint Tenancy: Joint and equal interests in land owned by two or more individuals created under a single instrument with right of survivorship. Example: John Doe and Mary Doe, husband and wife, as joint tenants. -
Business Personal Property
FAQs Business Personal Property What is a rendition for Business Personal Property? A rendition is simply a form that provides the District with the description, location, cost, and acquisition dates for personal property that you own. The District uses the information to help estimate the market value of your property for taxation purposes. Who must file a rendition? Renditions must be filed by: Owners of tangible personal property that is used for the production of income Owners of tangible personal property on which an exemption has been cancelled or denied What types of property must be rendered? Business owners are required by State law to render personal property that is used in a business or used to produce income. This property includes furniture and fixtures, equipment, machinery, computers, inventory held for sale or rental, raw materials, finished goods, and work in progress. You are not required to render intangible personal property (property that can be owned but does not have a physical form) such as cash, accounts receivable, goodwill, application computer software, and other similar items. If your organization has previously qualified for an exemption that applies to personal property, for example, a religious or charitable organization exemption, you are not required to render the exempt property. When and where must the rendition be filed? The last day to file your rendition is April 15 annually. If you mail your rendition, it must be postmarked by the U. S. Postal Service on or before April 15. Your rendition must be filed at the appraisal district office in the county in which the business is located, unless the personal property has situs in a different county. -
Intangible Takings Susan Eisenberg
Vanderbilt Law Review Volume 60 | Issue 2 Article 13 3-2007 Intangible Takings Susan Eisenberg Follow this and additional works at: https://scholarship.law.vanderbilt.edu/vlr Part of the Intellectual Property Law Commons, and the Property Law and Real Estate Commons Recommended Citation Susan Eisenberg, Intangible Takings, 60 Vanderbilt Law Review 667 (2019) Available at: https://scholarship.law.vanderbilt.edu/vlr/vol60/iss2/13 This Note is brought to you for free and open access by Scholarship@Vanderbilt Law. It has been accepted for inclusion in Vanderbilt Law Review by an authorized editor of Scholarship@Vanderbilt Law. For more information, please contact [email protected]. NOTES Intangible Takings INTRODU CTION .................................................................... 668 II. THE LEGAL CONTEXT OF INTANGIBLE TAKINGS .................. 673 A. ConstitutionalProtection of Private Property......... 673 1. Defining Property in the Takings Clause .... 674 2. Absence of Qualifying Test for Intangible Property Interests ........................................ 676 B. TraditionalLaw Affords No Property Interest in Phone N um bers ................................................... 676 1. FCC Rules Governing Ownership of Phone N um bers ....................................................... 676 2. Contract Law ................................................ 678 3. Intellectual Property Law ............................ 679 C. Denial of Protective Rights Produces Incongruous Law .................................................... -
Common Ways of Holding Title to Real Property
NORTH AMERICAN TITLE COMPANY Common Ways of Holding Title to Real Property Tenancy in Common Joint Tenancy Parties Any number of persons. Any number of persons. (Can be husband and wife) (Can be husband and wife) Division Ownership can be divided into any number of Ownership interests cannot be divided. interests, equal or unequal. Title Each co-owner has a separate legal title to his There is only one title to the entire property. undivided interest. Possession Equal right of possession. Equal right of possession. Conveyance Each co-owner’s interest may be conveyed Conveyance by one co-owner without the separately by its owner. others breaks the joint tenancy. Purchaser’s Status Purchaser becomes a tenant in common with Purchaser becomes a tenant in common with other co-owners. other co-owners. Death On co-owner’s death, his interest passes by On co-owner’s death, his interest ends and will or intestate succession to his devisees or cannot be willed. Surviving joint tenants heirs. No survivorship right. own the property by survivorship. Successor’s Status Devisees or heirs become tenants in common. Last survivor owns property in severalty. Creditor’s Rights Co-owner’s interest may be sold on execution Co-owner’s interest may be sold on execu- sale to satisfy his creditor. Creditor becomes a tion sale to satisfy creditor. Joint tenancy is tenant in common. broken, creditor becomes tenant in common. Presumption Favored in doubtful cases. None. Must be expressly declared. This is provided for informational puposes only. Specific questions for actual real property transactions should be directed to your attorney or C.P.A. -
[PDF] Intangible Property Section of Uniform Administrative
§ 3019.35 7 CFR Ch. XXX (1–1–06 Edition) the equipment shall be subject to the (2) Authorize others to receive, repro- provisions for federally-owned equip- duce, publish, or otherwise use such ment. data for Federal purposes. (d) (1) In addition, in response to a § 3019.35 Supplies and other expend- Freedom of Information Act (FOIA) re- able property. quest for research data relating to pub- (a) Title to supplies and other ex- lished research findings produced under pendable property shall vest in the re- an award that were used by the Federal cipient upon acquisition. If there is a Government in developing an agency residual inventory of unused supplies action that has the force and effect of exceeding $5000 in total aggregate law, the Federal awarding agency shall value upon termination or completion request, and the recipient shall pro- of the project or program and the sup- vide, within a reasonable time, the re- plies are not needed for any other fed- search data so that they can be made erally-sponsored project or program, available to the public through the pro- the recipient shall retain the supplies cedures established under the FOIA. If for use on non-Federal sponsored ac- the Federal awarding agency obtains tivities or sell them, but shall, in ei- the research data solely in response to ther case, compensate the Federal Gov- a FOIA request, the agency may charge ernment for its share. The amount of the requester a reasonable fee equaling compensation shall be computed in the the full incremental cost of obtaining same manner as for equipment.