The flashcards below were created by user
on FreezingBlue Flashcards.
Involves the sale of personal property
Bill of Sale
Transfer title to personal property
Controlled by Division 6 of the Uniform Commercial Code.
-warn transferor's creditors of the pending transfer
-Applies to retail or wholesale
-Transferee(purchaser) must give public notice twelve days before transfer.
-accomplished with "Notice of Intention to Sell"
Personal Property Loans (Security Transactions in Personal Property)
Division 9 of U.C.C
State Board Of Equalization
Issues permits, collects taxes and administers law
Required by every seller, wholesale or retail
Metes and Bounds
enclosing a given area by measuring off distances
-describe irregularly shaped parcels of land
-useful only to civil engineer or surveyor
-Bounds are measures of boundaries (natural or artificial)
Government Survey Section and Township System
standard system of describing lands, based on series of rectangular parcels
Base and Meridian Lines
East and West = Base
North and South = Meridian
- Three California...
- 1) Humboldt
- 2) Mt. Diablo
- 3) San Bernardino
Intangible personal property
is not subject to property tax
to release "Financing Statement" from public record
-Each section is 1 mile square (36 Square Miles total)
-Each section contains 640 acres
1 acre =
43,560 Square Feet
9 square feet =
1 sq. yard