David Saks: April 2010

David Saks - Real Estate Broker - The Real Estate Mart of Tennessee, Inc. - 4040 North Watkins-Suite #4 - Memphis, Tennessee 38127 - Phone (901) 357-4663

Real Estate Practice : Lesson 614

                                                              #614

A man is building a deck on the rear patio slab of his new home.

He has just purchased the lumber which he needs to build the deck.

The lumber has just been delivered by the trucking company and left in the driveway for him.

Is the lumber considered to be real property (property to be affixed to the existing structure), or personal property ?

Remember to take your time. The answer is posted below the wildlife photo.

A. Personal property because it isn't affixed to the property.

By converting personal property (the lumber) into an assembled fixture which is permanently attached to the house, a process known as annexation takes place.  Until this process has occurred, the unattached lumber remains personal property.

Licensees should be able to make the distinctions between real property and personal property.

Real property is conveyed or transferred by deed and personal property is usually conveyed or transferred by the use of a bill of sale.




David Saks



Time&Temp Memphis

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Comment balloon 0 commentsDavid Saks • April 05 2010 10:10AM
Real Estate Practice : Lesson 614
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#614 A man is building a deck on the rear patio slab of his new home. He has just purchased the lumber which he needs to build the deck. The lumber has just been… more
Real Estate Practice : Lesson 613
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#613 When considering the concept of real estate, most of the follwing would be included in the sale of a parcel of land except which of the following items 1. Air Rights above… more
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#611 A man owns a building in a commercial section of the community. The man has a tenant that rents space in the property that he owns. The tenant operates a beauty parlor… more
Real Estate Practice : Lesson 610
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#610 A local construction company recently purchased 75 acres of land and decided to build a number of storage facilities on the property for the storage of building matrerials and… more
Real Estate Practice : Lesson 609
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#609 When we talk about a REALTOR®, what kind of a person are we referring to Please take your time. The answer is posted below the wildlife photo. A REALTOR®… more
Real Estate Practice : Lesson 608
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#608 When we consider the supply in the real estate markets, between the options of demographics, population, employment, and government financial policies, which one of these has the… more
Real Estate Practice : Lesson 607
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#607 Appraisal, financing, property management and development may all be considered example of what A. All of these things are considered… more
Real Estate Practice : Lesson 606
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#606 What factor is most likely to influence the demand for real estate A. Employment opportunities and the wage levels offered. If wages are low and the… more
Real Estate Practice : Lesson 605
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#605 In general, when the supply of a certain commodity increases, what tends to evolve as a natural result of this phenomenon A. Prices tend to drop. Increase in… more