07 Jul What is Personal Property?
Posted at 15:49h in Uncategorized
A. Personal Property or movable property includes all things other than real estate which have any pecuniary value, all money, credits, investments in bonds, stocks, franchises, shares in joint-stock companies or otherwise (R.S. 47:1702 and R.S. 47:2322).
B. Personal property will mean tangible property that is capable of being moved or removed from the real property without substantial damage to the property itself or the real property from which it is capable of being removed. Personal property will include, but not be limited to, inventory, furniture, fixtures, machinery and equipment, and all process and manufacturing machinery and equipment, including the foundation, therefore (R.S. 47:2322).