Mixed ownership is a type of property that is movable but associated with a specific piece of land. It may require special treatment under the law and tax purposes. Examples include monuments, headstones, relics, and title deeds. When real estate is transferred, mixed ownership often accompanies it and may require special measures for proper care.
Mixed ownership is ownership that shares the characteristics of personal ownership and immovable ownership. It can be movable to some extent, such as personal property, but it is also affixed to or associated with a specific piece of land, such as real estate. Such property may require special treatment under the law and may be treated uniquely for tax purposes, depending on the region and the specifics of a particular case.
True real estate includes land and fixtures such as buildings. While it is technically possible to move buildings, they are not designed to be portable and therefore could be considered a fixed feature on the ground. Conversely, personal property is movable and intended to be movable. So, a house is an example of real estate, but the furniture inside is personal. Unless special agreements are made at the time of sale, all personal property is removed and the buyer takes possession of the real estate only.
Mixed ownership is ownership associated with a specific piece of land, although it is also movable. Monuments are a good example. They are installed in place and designed to be left in a specific place, but could be moved around if needed. Likewise with headstones, a type of mixed ownership found in cemeteries and sometimes on private land where people perform family burials. Some relics associated with a specific piece of land are also a form of this type of property.
The deed to a property is itself mixed ownership. Title deeds are highly mobile, but are associated with a particular piece of land. While someone might keep a title deed offsite in a location like a bank vault, it is still attached to the land, providing proof of ownership and information about a land’s physical characteristics and history.
When real estate is transferred to a new owner, mixed ownership of the land often accompanies the transfer. In one example seen in some regions where old churches are deconsecrated and sold, artifacts associated with the church, including gravestones in the cemetery, are transferred to the new owner when the church is sold. Special measures may be taken to ensure that mixed ownership is properly cared for even when land changes ownership, such as establishing a trust to provide maintenance or creating an easement that restricts the use or transfer of mixed ownership in the future. There may also be instances where mixed ownership is moved to a more secure location.
Protect your devices with Threat Protection by NordVPN
