We quite often find ourselves having to distinguish between residential chattels and fixtures in our line of business. We may be valuing personal possessions for insurance purposes, or inheritance tax. On other occasions, we may be clearing a hoarded home in a house or … [Read more...]
How Personal Chattels Work in Mortgages
A chattel includes any personal possession with substance, with the exception of land and fixed improvements thereon. Thus a chattel could be any tangible, movable asset according to Oxford Languages. We discuss how personal chattels work in practice as security for … [Read more...]
How Chattels and Gains Tax Work
A chattel is a tangible asset that you own, that you can physically touch and move around. This means it forms part of your estate, and is potentially liable for inheritance tax when you die. But some chattels are exempt, which is why it is essential to understand how … [Read more...]
Can a Fixture Become a Chattel?
A chattel is a portable possession, as every schoolkid should know. However, it becomes a fixture if an owner permanently attaches it to a house on a property they own. Naturally, there are exceptions for lawyers to thrive over. Today we consider the reverse … [Read more...]
The Store of Wealth in Your Chattels
An unusual mortgage could help you access the store of wealth in your chattels, if you don’t want to sell them right now. This is a particular form of security interest over tangible moveable property, and it works similarly to a property mortgage. Legal title to … [Read more...]
UK Property Boom to End This 2023
There’s a lot to be said to listening to what Royal Institution of Chartered Surveyor members (RICS) say about property prices. Rather than absentmindedly hearing what estate agents think. That’s because RICS bases its opinions on hard facts, when it says the UK … [Read more...]
