Legal Question in Business Law in Maryland
home buying
if you sell your home does the propane in the tank become part of the real property or is it a seperate entity?
Asked on 5/29/08, 9:19 am
1 Answer from Attorneys
Ronald Cappuccio
Ronald J. Cappuccio, J.D., LL.M.(Tax)
Re: home buying
Normally, a well-drafted Agreement of Sale provides for the adjustment of propane at settlement. Usually, an estimate is made (or an actual reading by the supplying company) and the adjustment is put on the HUD-1 Settlement sheet.
I hope this helps!
Ron Cappuccio
http://www.BusinessEsq.com
Answered on 5/29/08, 9:30 am
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