Document background
The Personal Property Addendum To Real Estate Contract is a critical document used in Canadian real estate transactions where significant personal property items are included in the sale of real estate. This addendum becomes necessary when items such as appliances, furniture, equipment, or other movable property are to be transferred along with the real estate. It serves to clearly document what personal property is included, its condition, value, and the terms of transfer, thereby preventing potential disputes after closing. The document must comply with provincial personal property security laws, real estate regulations, and federal tax requirements. It is particularly important in situations involving furnished properties, estate sales, or commercial properties where equipment or fixtures are part of the transaction. The addendum provides essential protection for both parties by explicitly detailing all personal property aspects of the transaction and their relationship to the main real estate agreement.
