Real or Personal Property

It is important to understand the difference between real and personal property because a misunderstanding could have significant legal consequences. Real property generally refers to land and everything that is attached to it. Personal property generally refers to the stuff that you own that is not real property.

Trailer homes are generally considered personal property in the State of Minnesota. Therefore, you cannot attach a mechanic’s lien to a trailer home. In addition, a mobile or manufactured home must be licensed as a motor vehicle in the State of Minnesota in lieu of paying a property tax.

Real property cannot be conveyed via a personal property list upon your death. Therefore, if you list your house on a personal property list to be given to your daughter upon your death that transfer is void. That is because your house is real property and cannot be conveyed via a personal property list.

If you have real property in your name and wish to sell it, but you are married (even if your spouse is not on the title) your spouse must agree to sell it in Minnesota. While you do not need your spouse’s permission to purchase real property in Minnesota, you need your spouse’s permission to sell it.

Spangler and de Stefano, PLLP advises clients on estate planning and planning for medical assistance.

The material contained herein is for informational purposes only, and is not intended to create or constitute an attorney-client relationship between Spangler and de Stefano, PLLP and the reader. The information contained herein is not offered as legal advice and should not be construed as legal advice.