How is personal property different from real property?
If you are approaching the divorce process, various challenges may be in front of you, such as child support and custody issues. That said, the division of property can be especially complex and may have a major impact on your life. If you live in Salt Lake City, you should review the property division laws in Utah and understand key terms, such as personal property and real property.
According to the Utah Courts, personal property and real property have a number of differences. For example, personal property is generally movable, while real property consists of land or something that has been constructed on land indefinitely. Some examples of personal property include furniture, jewelry and boats or automobiles, while examples of real property include a family home, the land it was built on or any other real estate that belongs to a spouse.
When courts decide to sell real property, the proceeds are usually distributed fairly between each spouse. In some cases, one spouse is able to retain real property, so long as other conditions are met. If you are worried about how your marital property will be split up or have any other questions related to the property division process, it is important to carefully assess all of the details of your divorce and take steps to secure a more favorable outcome.
Please understand that this piece was written to draw attention to the differences between real property and personal property and is not to be interpreted as a replacement for legal advice.