Generator: Personal Property Or Real Property?

[Terrel L. Shields]

Aside, I did a million dollar house, that had a 75 KW generator, took up a whole room, had a 4" gas line to it, and the house got repossessed. The generator was removed, along with all the built-in kitchen appliances.

Banks locally that repo'd farms removed the generators and controllers out of the chicken houses and placed in storage. Theft was extremely common. And no small number of these barns had the electrical wires stripped out. In fact, copper wire theft was epidemic for a while and they were stealing them at night out of operating farms between flocks.

 

[Eli]

Banks locally that repo'd farms removed the generators and controllers out of the chicken houses and placed in storage. Theft was extremely common. And no small number of these barns had the electrical wires stripped out. In fact, copper wire theft was epidemic for a while and they were stealing them at night out of operating farms between flocks.

Yep. Theft and disposing of mortgaged property are two totally different things. I have seen instances where disposing of mortgage property or property with a lien on it was proved and it was prosecuted. The potential penalties are bad for such a crime. Somebody can take bankruptcy for not paying most bills, but that won't help them in a theft or disposing of property with a lien on it.