Here’s a topic that seems to arise more often in the Fall, for no apparent reason. I refer to the inclusion of personal property items in the context of a house purchase.
In the walkthrough, before or after an agreement of purchase and sale has been signed, the purchasers may want to include one or more items of furniture, or other personal property (chattels) in the agreement. Indeed, sometimes the house sale includes furnishings generally speaking. In any case, there should be an attachment to the primary agreement or a separate agreement altogether addressing and itemizing the personal property purchase.
The reason for this, aside from a possible tax issue, is that if your lawyer does not know of the personal property purchase, he or she cannot confirm that the item or items are not encumbered. It would come as a shock if, after closing, folks show up and re-possess various chattels. I have known of cases where even plants have been removed! The point is that often the parties arrange between themselves to transfer items of personal property as part of the general agreement.
Purchasers should always be reminded to address such wishes formally... and in writing.
Regards, Marcus Lennox and Jenn and Jenn