0
Any personal property used to generate income.
Wiki User
∙ 15y ago
Add your answer:
Earn +20 pts
Does business personal property cover underground storage tanks?
If that property (the underground storage tanks) is used in the business to make money and you are the owner of the business, then yes. I'm not a lawyer so this is only my opinion after reading the definition of business personal property.
What does the LLC Corporation do?
"An LLC Corporation is often used by small business owners to protect them from monetary liability. When you set up an LLC Corp. your personal property, i.e., house, car and other personal assets are off limits from being included in a lawsuit against your business."
Personal property that is included with real estate is called?
A person's real property and personal propertymakes up what we call their estate.
What is join venture?
A joint venture is a business you enter into with another person. Joint ventures are also called partnerships. To protect your personal property, consider incorporating your partnership.
Can your personal umbrella policy cover you if your business is sued?
No, a personal umbrella policy generally excludes all business and business exposure. A personal umbrella protects an individual. If your business is insured with a business/commercial policy to protect the business it would be a commercial umbrella.
What is personal business?
Any personal property used to generate income.
Does business personal property cover underground storage tanks?
If that property (the underground storage tanks) is used in the business to make money and you are the owner of the business, then yes. I'm not a lawyer so this is only my opinion after reading the definition of business personal property.
Can i place a lien on a business and business ower's personal property?
No, but you can ask a court to do so.
What is BPP insurance coverage?
Business and personal property coverage
Whats the definition of a business asset?
Business asset is a piece of property or equipment purchased for business use. It is also a personal property that has value which can be used for the payment of its owner's debt.
How do you move investment property out of your name into a business name without refinancing the property?
You will have to transfer the title, but, the lien that is on your property -if it has a personal guarantor, will not be tranferable, most likely, to a business entity unless you or whomever the owner happens to be, is willing to remain the personal guarantor.
If you file Bankruptcy on your business can they take your personal assets?
Only if then can show that you committed fraud, by piercing the corporate veil (i.e. using the business as your personal property), or if you gave a personal guarantee for business loans/debts.
What happens in California to personal property of a of a business when evicted?
Every state has its own laws regarding what to do with personal property of an evicted tenant. You'll need to check with your state's rules.
How do the differences between real and personal property affect small businesses?
business plans
Where can a twenty year-old obtain cargo insurance for pulling a trailer?
If it is business property like gardening equipment, you can cover it under personal property which is separate from your auto coverage. If you rent and have personal property coverage, they should have a limit for the business property on that policy. If it is stuff you sell it would still be business property and they usually cover about $2,500 worth both on and off premises. Check with an insurance agent for a quote.
Does homeowners insurance cover stolen tools?
Generally speaking, a homeowner's policy covers personal property for loss by theft.Tools used for business purposes may not be considered by personal property.
I rent a home with a detached shop that I run a business out of. If my car damages the building and my business contents will my comprehensive pay for my assets and the landlords building?
Renters InsuranceNo. Your renters Insurance Policy is personal lines residential tenants coverage. It should provide coverage for your "Personal Property" and may have some liability and personal injury coverage as well. Your Renters or "Tenants Policy" would not cover your business property nor the property of another person. Your landlord is expected to have his own property coverage.If you need coverage for your business property you would need to pick up a business owners insurance policy. Your personal lines residential rental policy would not cover your business property.AnswerYou'd have to examine the contents of your vehicle insurance policy to determine what would be covered.
